Hyderabad Police Arrest 32 Bank Officials in Rs 150 Crore Fraud Case
Hyderabad Police carried out a multi-state crackdown this week. They arrested 52 people, including 32 bank employees, over mule accounts tied to cybercrime and a Rs 150 crore scam.
Operation and scope
The raids happened simultaneously across nine states over one week. Authorities targeted staff suspected of facilitating account openings for criminal networks.
- Telangana
- Andhra Pradesh
- Maharashtra
- Delhi
- Rajasthan
- West Bengal
- Karnataka
- Gujarat
- Bihar
The latest action followed leads from a February interstate probe. That earlier sweep covered 16 states and flagged hundreds of suspect accounts.
Links to prior investigation
Investigators had earlier identified about 350 bank accounts used to divert victims’ funds. Those accounts were connected to roughly 850 cases nationwide.
Officials say about Rs 150 crore moved through the linked accounts. The figures underpin a sprawling fraud case under investigation.
Who was arrested
Of the 52 arrested, 32 worked in banks. They came from ten different financial institutions, including public sector banks.
Bank roles included relationship managers, KYC approvers, clerks, probationary officers and field officers. Six of the accused belonged to a single private bank.
Other detainees acted as middlemen who arranged mule account openings. Police say the middlemen helped criminals receive and transfer stolen funds.
Evidence recovered
Investigators seized electronic and documentary items from the suspects. These items may help trace transactions and communications.
- 26 mobile phones
- 14 cheque books
- 21 stamps
- 2 pen drives
Modus operandi and motives
Police found accounts opened without proper customer verification. Some accounts were created for companies that were non-existent or staged.
Officials say staff opened accounts despite failed field inspections. Motivations ranged from meeting monthly sales targets to personal financial gains.
Official comments and next steps
Hyderabad Police Commissioner V C Sajjanar said the week-long drive focused on bank insiders. He noted collusion between some staff and fraud networks.
The probe remains active. More arrests and further audits of suspect accounts are possible as inquiries continue.
Report by Filmogaz.com.
