Hyderabad Police Uncover Bankers’ Involvement in Cyber Crime
The Hyderabad Police say they dismantled a sprawling cybercrime network that operated across multiple states. Investigators arrested more than 52 people during coordinated searches under Operation Octopus-2.0.
Operation Octopus-2.0 and arrests
The raids took place in nine states. Police executed targeted operations to identify bankers who aided criminals.
Authorities arrested 52-plus suspects. The group included bank officials, mule customers, and mediators.
| Category | Number |
| Bank officials | 32 |
| Mule customers | 15 |
| Mediators | 5 |
Bankers’ role in the fraud
Police say the bankers opened accounts that facilitated the scams. Without those accounts, the frauds could not proceed.
Investigators linked the account activity to widespread collusion. Officers described the pattern as deliberate assistance to cyber criminals.
Modus operandi and scale
The group used 350 bank accounts to move extorted funds. These accounts connected to over 850 registered cyber cases nationwide.
Authorities identified transactions totaling about Rs 150 crore. Victims faced investment frauds and extortion schemes.
Investigation structure and next steps
Police formed 16 special teams to probe the network and trace money flows. The units work across state lines.
Further arrests and asset recovery are possible. Officials said the probe will continue until all links are exposed.
Reporting for Filmogaz.com.
