Overview
- Hyderabad Cyber Crime Police arrested six suspects tied to a ₹1.22 crore fraud and seized mobile phones, SIMs, ATM/debit cards, cheque books and bank passbooks.
- Investigators traced the scheme to a WhatsApp group that steered a victim to fake trading websites where an initial permitted withdrawal of ₹1.05 lakh built trust before 19 transactions totalling ₹1.22 crore were made.
- Fraudsters showed fabricated profits of ₹15.69 crore and demanded an extra ₹35 lakh for IPO allotments to pressure the victim into sending more money.
- Police say the suspects ran a mule-account service that opened high-value current accounts through a company, sold or rented accounts for commission, and used remote access and OTP manipulation to control them.
- Financial analysis linked one supplied YES Bank account to 26 cybercrime cases with about ₹1.10 crore routed through it and a Central Bank of India account to 18 cases with ₹3.37 crore routed, and police are widening the probe to find more victims and trace fund flows.