Hyderabad: The Cyberabad police’s cybercrime cell apprehended a gang involved in loan frauds. The accused would source bank accounts and SIM Cards on mule identities in Telangana and other states. The gang comprises call center operators, tele callers and suppliers of bank accounts, ATM cards and SIM cards.
According to the Cyberabad police, the arrested persons are Subash Kumar, Shreekant Kumar and Amit.
One of the common methods used by these people is that they put online advertisements for quick loan disbursals using the names of trusted organizations such as Bajaj Finance and mention their contact numbers in the advertisement.
“When somebody clicks on the advertisement or its link, they send them a message or sometimes people call the fraudster’s number given in the advertisement. In the guise of providing a loan, the fraudsters take money from victims on various pretexts like Loan insurance fee, loan agreement charge, GST, Loan processing fee etc.,” said Stephen Raveendra, Cyberabad police commissioner.
He added that people pay up the amount because they think that by paying money, they will get the loans. The money received from victims is taken into mule bank accounts sourced by fraudsters. Later, all payments made by victims are transferred multiple times through various accounts to prevent detection and finally withdrawn, said the officer.
The accused sourced and sold more than 675 mule bank accounts and 725 mule SIM cards and committed fraud.
The Cyberabad police seized 17 debit cards of different banks, three bank pass books, four smartphones and fake loan offer and confirmation letters