- Hyderabad Police arrested 52 suspects in Operation Octopus 2.0 across nine states
- 32 bank employees, including managers and clerks, were among those arrested
- Raids seized 26 phones, 14 cheque books, and 21 fake company stamps used in fraud
In a major crackdown, Hyderabad Police have busted a large cyber fraud network under Operation Octopus 2.0, arresting 52 suspects, including 32 bank employees, across nine states.
Police said the operation targeted bank officials, who were helping cybercriminals open and operate fake (mule) accounts to transfer illegal money. Those arrested include managers, clerks, and KYC staff from banks like Bank of Baroda, Bandhan Bank, and IndusInd Bank.
The crackdown was carried out by multiple police teams across states including Maharashtra, Delhi, Karnataka, Telangana, and others over a week-long operation.
During raids, police seized 26 mobile phones, 14 cheque books, 21 fake company stamps and other items.
Officials said these were used to create and operate fraudulent accounts.
"This network involved bank insiders who helped cybercriminals move stolen money through fake accounts. We are tracking the full money trail." said cybercrime DCP V. Aravind Babu.
"Anyone involved in such crimes, no matter their position, will face strict legal action. We will continue strong action against cybercrime networks," said CP Guserabad V. C. Sajjanar.
Police said this follows Operation Octopus 1.0, which earlier led to over 100 arrests and exposed hundreds of fake accounts linked to large-scale fraud.
Police also advised citizens to not share OTPs or bank details, avoid clicking unknown links, and never give bank account to others. Victims can report cyber fraud by calling 1930 or visiting the official cybercrime portal.
Further investigation is ongoing, and more arrests are expected, officials said.
