Hyderabad Police Unleashes 'Operation Octopus' to Combat Nationwide Cyber Fraud
Major Cyber Fraud Crackdown in Hyderabad
Hyderabad Police have successfully dismantled a significant cyber fraud network operating across India, resulting in the arrest of 104 suspects from 16 different states. This operation, dubbed 'Operation Octopus', was executed over a period of 10 days, as announced by Police Commissioner V.C. Sajjanar on Tuesday.
The operation was spearheaded by DCP (Cybercrimes) V. Aravind Babu, who coordinated efforts against various cybercrime syndicates nationwide. The arrested individuals are implicated in 1,055 cyber fraud cases, with the total amount defrauded estimated at around ₹127 crore.
During this extensive operation, law enforcement seized a substantial amount of evidence, including 204 mobile devices, 141 SIM cards, 152 bank passbooks, 234 debit and credit cards, 26 laptops, 56 stamps from various firms, and ₹36 lakh in cash.
The crackdown spanned multiple states, including Maharashtra, Delhi, Rajasthan, West Bengal, Karnataka, Uttar Pradesh, Gujarat, Haryana, Punjab, Andhra Pradesh, Assam, Madhya Pradesh, Bihar, Uttarakhand, and Odisha.
Commissioner Sajjanar highlighted a troubling increase in cases where victims have fallen prey to investment scams, trading frauds, and 'Digital Arrest' scams, leading to significant financial losses.
Cyber fraudsters have been exploiting the trust of unsuspecting individuals, draining their bank accounts through manipulation and emotional pressure. In response to this alarming trend, 'Operation Octopus' was initiated to deliver a strong response against these criminal networks.
Following a thorough investigation into the rise of such frauds, the Cyber Crime Police Station (CCPS) in Hyderabad identified a network of 151 bank accounts used to facilitate the theft of victims' funds.
Through careful intelligence gathering and forensic analysis, these accounts were pinpointed as key channels for laundering illicit gains. To tackle this intricate web of crime, 32 specialized teams of experienced investigators were formed, executing the operation simultaneously across 16 states and apprehending 104 individuals involved in the fraud.
Among those arrested was a Relationship Manager from Bandhan Bank, who was found to be collaborating with fraudsters to open and manage fraudulent accounts.
'Operation Octopus' remains an ongoing effort, with investigations continuing to target the higher levels of these syndicates. A clear message has been issued: anyone involved in these crimes, regardless of their position or influence, will face severe consequences. Every lead will be thoroughly investigated, and offenders will be prosecuted to the fullest extent of the law.
The Police Commissioner emphasized that anyone aiding cybercriminals, including bank officials and holders of mule accounts, will be dealt with strictly under the law.