Hyderabad: A major interstate fraud syndicate operating in Hyderabad has been dismantled with the arrest of six individuals. The Cyberabad Cybercrime police unit apprehended the group for their role in supplying mule bank accounts and SIM cards to online trading scammers. The network is accused of defrauding citizens of more than one crore rupees.
Those taken into custody have been identified as V Srinivas Rao, Ch Ganesh, G Naveen Kumar Reddy, S Rajesh, M Sudheer, and Mohd Ashraf. The accused are residents of both Telangana and Andhra Pradesh.
Police officials detailed the gang’s method of operation. The syndicate specialized in acquiring bank accounts and mobile SIM cards, which were then provided to cybercriminals running fraudulent trading platforms. On these fake platforms, victims were shown doctored profit statements that displayed false earnings. Trusting these fabricated dashboards, people were convinced to transfer their money into the bank accounts supplied by the arrested gang.
A senior official stated that a forensic examination of seized electronic devices uncovered critical evidence. This included images of 60 cheque leaves and other digital data. The evidence connects the network to approximately 400 cyber fraud cases across India, with three of those cases being within the Cyberabad jurisdiction itself.
The syndicate functioned on a commission-based model. Payments for their services varied, from a flat fee for each account provided to a percentage of the total illegal transaction volume handled. Investigators also revealed that one member of the gang was supplying these mule accounts to international fraud operators using the Telegram messaging platform. Police efforts are currently focused on locating and arresting other suspects connected to the racket who remain at large.
