Telangana Cyber Security Bureau Busts Cyberfraud Syndicate, Bank Manager Among 20 Arrested In Gujarat

Hyderabad: In a significant crackdown on cybercrime, the Telangana Cyber Security Bureau (TGCSB) has dismantled a major Gujarat-based syndicate involved in facilitating fraudulent activities across the country and arrested 20 people, including a bank manager from Gujarat.

A special 10-day operation conducted by the TGCSB led to the arrest of 20 people, who were reportedly linked to 515 cyberfraud cases nationwide with 60 cases being registered in Telangana alone.

In a press briefing on Monday, Shikha Goyal, TGCSB director said the gang’s fraudulent activities spanned across multiple states. The investigation, led by a team of DSPs and inspectors from the Telangana Cyber Crime police station, uncovered illicit funds amounting to Rs. 4.37 crores that were obtained under the guise of investments, trading and part-time jobs. Five of the accused were found to have withdrawn Rs 22.64 lakh in cash through fraudulent cheques.

Racket Unveiled

The fraudsters primarily operated by exploiting mule bank accounts, set up by traders and employees in exchange for commission. The TGCSB team found out that some employees working at banks in Gujarat's Surat district had helped in opening mule accounts for the fraudsters. A meticulous investigation uncovered that the gang’s operations were centered around Gujarat, with the money flowing through various accounts across the country, Goyal said.

A Coordinated Effort Across States

The TGCSB team, under the leadership of SP Devender Singh, conducted a targeted operation starting April 1, with members stationed across different parts of Gujarat for 10 days. They successfully tracked down the accused using advanced technology and collaborated with local police forces to apprehend them. The accused included DCB Bank relationship manager Ankit Kumar Singh (26), who played a pivotal role in the operations, along with other agents and mule customers, Goyal said.

The arrests mark the fifth major operation conducted by the TGCSB, which has been instrumental in tackling growing cybercrime issues. The 20 arrested individuals have been remanded in custody. The TGCSB will conduct further investigation, bringing in more cybercriminals to justice in their relentless pursuit of ensuring a secure digital environment.

This operation sheds light on the increasing sophistication of cyberfraud networks, with banks and financial institutions being exploited for illegal activities. The Telangana Cyber Crime Police are working closely with national agencies to address the rising cases of cyberfraud, urging the public to remain vigilant and report suspicious activities to the authorities.