Hyderabad: In a major crackdown on cyber fraud, Hyderabad City Police have arrested 52 individuals, including a bank manager and three bank employees, for their involvement in a large-scale digital trading scam. City Police Commissioner CV Anand revealed the details at a media briefing, highlighting the seizure of cheque books, mobile phones, rubber stamps, debit cards, and credit cards from the accused.
According to police, the gang engaged in three types of cyber fraud, luring victims through Facebook and WhatsApp groups with promises of high returns on digital trading. The criminals allegedly created mule accounts with the assistance of bank officials to facilitate fraudulent transactions. One victim alone was defrauded of ₹93 lakh.
Commissioner Anand warned the public against joining unverified trading apps and online investment groups, emphasizing the rising threat of cybercrime. He revealed that cybercriminals have scammed ₹3,500 crore, making recovery of stolen funds difficult. The investigation into these frauds is ongoing.
Authorities urge people to stay vigilant and report suspicious activities to prevent further financial losses.
