Hyderabad: Hyderabad City Police busted a major pan-India cyber fraud network under Operation Octopus 2, arresting 52 individuals, including 32 bank officials, for facilitating mule accounts used to siphon off ₹150 crore across 850 cases. Commissioner V. C. Sajjanar warned of strict action and urged citizens to stay alert against cyber scams.

Hyderabad: In a massive pan-India cyber fraud crackdown, the Hyderabad City Police arrested 52 individuals from nine states under Operation Octopus 2, including 32 bank officials, 15 mule account holders, and five middlemen. The accused were allegedly involved in facilitating over 350 bank accounts linked to nearly 850 cybercrime cases across the country, siphoning off around ₹150 crore from victims. Police teams conducted coordinated raids across multiple states, seizing mobile phones, cheque books, shell company stamps, and digital devices. Most of the arrested bank employees, belonging to several private and public sector banks, were found to have played roles in opening mule accounts by bypassing due diligence and KYC norms. City Police Commissioner V. C. Sajjanar said strict action would be taken against all those involved, highlighting serious lapses in verification processes being exploited by cybercriminals. He also reiterated public safety measures, urging citizens to avoid “guaranteed return” schemes, never share OTPs or sensitive data, and not allow their bank accounts to be misused, warning that doing so can lead to legal consequences. Victims of cyber fraud are advised to report incidents immediately by dialing 1930, filing complaints on the national cybercrime portal, or approaching the nearest police station to improve chances of recovering lost funds.