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Hyderabad: The Hyderabad Cyber Crime Police arrested 56 people from across India in April as part of a special operation targeting organised online fraud networks, recovering nearly Rs 70 lakh and refunding it to victims, the police said on Tuesday, May 5.

The arrests were made under “Operation Octopus 2.0,” a continuation of an earlier crackdown that specifically targets bank insiders and mule account operators who enable cyber fraud at scale.

Of the 56 arrested, a significant number were bank employees. The police, working alongside law and order teams, picked up 32 bank managers, KYC approvers, relationship managers and field officers, pointing to the growing problem of insiders facilitating fraud from within the financial system. 

Another 15 mule account holders and nine account operators and suppliers were also arrested.

The accused were nabbed from nine states – Maharashtra, Delhi, Telangana, Karnataka, West Bengal, Rajasthan, Andhra Pradesh, Bihar, Tamil Nadu and Gujarat.

Trading, investment scams dominate

Among the 56 arrested, trading fraud accounted for the largest chunk with 30 arrests, followed by investment fraud (17). Two persons were held in FedEx impersonation scams, two in social media fraud, and one each in cases of digital arrest, matrimonial fraud, credit card fraud, dating fraud and a lucky draw scam.

During the month, the Cyber Crime Police Station registered 77 first information reports (FIR) out of multiple complaints received on the National Cybercrime Reporting Portal (NCRP).

A total of Rs 69.99 lakh was refunded to victims across 33 cases in April. The cases involved a combined loss of over Rs 9.13 crore. Investment and trading fraud cases alone accounted for losses exceeding Rs 6.95 crore.

Separately, the Zonal Cyber Cells received 2,219 NCRP petitions, registered 283 FIRs and arrested 10 individuals, refunding an additional Rs 23.33 lakh to victims.

Fake investment website took woman for Rs 75 lakh

In one of the more egregious cases of the month, a victim was duped of nearly Rs 75 lakh through a fake online trading platform called centuryisfx.com. A woman identifying herself as “Nitya Rajput” called the complainant, claimed to represent a firm called Golden Bridge Investment (GBI) Limited, and persuaded her to invest, initially showing fake profits to build confidence.

The complainant’s deposits eventually totalled Rs 75.78 lakh. When she tried to withdraw Rs 8 lakh, access was denied and she was asked to pay more under the pretext of taxes and fees. Two accused, both bank employees from Kolkata, have been arrested in the case.

184 fake social media profiles pulled down

The police also took down 184 social media profiles on Facebook and Instagram in April that were running 801 paid advertisements promoting illegal betting apps and fake investment websites. Several profiles used deepfake videos of well-known personalities to lure victims.

Cumulatively, 427 profiles and 1,903 paid promotional advertisements have been identified and removed as part of ongoing cyber patrol efforts.

The police urged the public not to trust unsolicited calls or messages from people claiming to be government officials or law enforcement agencies, warning that no agency conducts inquiries or demands money over phone or video calls. There is no concept of a “digital arrest,” the police said.

Citizens who fall victim to online fraud are advised to call the national helpline 1930 or report at www.cybercrime.gov.in at the earliest, as prompt reporting improves the chances of freezing and recovering lost funds, a release by the Hyderabad Police said.