Hyderabad: Hyderabad Commissioner of Police V.C. Sajjanar on Friday, July 10, said that the city is losing nearly Rs 1 crore every day to cyber frauds.
He disclosed it while speaking at the National Round Table on Digital Trust & Citizen Protection organised by the Federation of Telangana Chambers of Commerce and Industry (FTCCI) in association with Hyderabad City Police and Protiviti India.
Sajjanar highlights growing cybercrime threat
Addressing the gathering, Sajjanar said mule bank accounts and ghost SIM cards are the backbone of cybercrime networks. He said they should be eliminated through joint efforts by banks, telecom companies, regulators and police.
He said the country should aim for a day when banks can proudly display a board saying, “This Bank Has No Mule Accounts.”
Report frauds immediately
Sajjanar asked people to remember the National Cyber Crime Helpline 1930. He described it as the “golden hour” helpline for cyber fraud victims.
He said victims who report fraud quickly have a better chance of getting their money frozen and recovered.
The Commissioner added that cybercrime has become one of the most organised forms of crime.
Experts discuss digital fraud challenges
The round table was organised under the theme “Protecting Citizens from Fear-Driven and Greed-Driven Digital Frauds.”
More than 200 participants, including police officers, bankers, cybersecurity experts, legal professionals, industry leaders and government officials, attended the event.
The programme included discussions on cyber fraud trends, banking risks, telecom-related scams, legal challenges, AI-enabled frauds, deepfakes and digital identity protection.
