Cyber Frauds: Telangana Bank Manager, Gym Trainer Among Those Arrested

Two more individuals, including a PSU bank branch manager and a gym trainer, were arrested in connection with a Rs 175 crore cyber fraud scam involving six bank accounts. The main fraudster operating from Dubai orchestrated the scam. Police caution the public against opening mule accounts.

Two individuals, including a PSU bank branch manager and a gym trainer, were arrested on Wednesday in connection with a Rs 175 crore cyber fraud scam, according to the Telangana Cyber Security Bureau.

Previously, two others were arrested. The bank manager, based in Shamsheergunj, collaborated with fraudsters to open current bank accounts, facilitate fund withdrawals, and divert money, as stated in a bureau release.

The Bureau's data analysis team analyzed complaints on the National Cybercrime Reporting Portal and found significant transactions in six bank accounts during March and April 2024. Approximately 600 complaints were linked to these accounts.

The main fraudster, operating from Dubai, and five associates lured poor individuals into opening bank accounts for cyber crimes and hawala operations. Significant transactions totaling Rs 175 crore occurred in March and April, with some money converted to cryptocurrency and sent to Dubai.

Police have advised the public not to open bank accounts for others or partake in suspicious transactions, urging anyone who has opened a mule account to report it immediately.

(With inputs from agencies.)