Hyd Police Arrest Two in Rs 175 Crore Scam
Hyd police Arrested Two in Rs 175 Crore Scam Linked to Dubai-Based Racket
Massive Cyber Scam Unveiled
Hyderabad: The Cyber Security Bureau of Telangana police has successfully arrested two individuals, Mohammed Shoeb Tauqeer and Mahmood Bin Ahmed Bawazir, in connection with a staggering Rs 175 crore scam linked to a Dubai-based cybercrime racket. The arrests were made following a detailed investigation into suspicious activities involving multiple bank accounts and large financial transactions. The scam, which has sent shockwaves through the city, highlights the growing menace of cyber fraud and the involvement of international syndicates in such operations.
Case Details and Legal Proceedings
A case was registered under Cr. No. 28/2024 at the Cyber Crime Police Station, Headquarters, Hyderabad. The charges include violations under Section 66D of the IT Act, and Sections 318(4), 319(2), and 338 of the BNS Act. The investigation was initiated based on a suo moto complaint, which led the Cyber Security Bureau to uncover the intricate details of the scam. According to K. V. M. Prasad, Deputy Superintendent of Police (DSP) of the Cyber Security Bureau, the investigation began after the data analysis team detected a surge in complaints reported on the NCRP portal against six specific bank accounts held at the SBI Shamsheergunj branch in Hyderabad.
Suspicious Transactions and Fraudulent Activities
The data analysis revealed that these six bank accounts had been involved in transactions of large sums of money within a brief period, specifically between March and April 2024. The rapid movement of funds and the high volume of complaints linked to these accounts raised red flags, prompting a closer investigation. It was soon discovered that the account holders were involved in a large-scale cyber fraud, with approximately 600 complaints linked to these accounts alone. The extent of the fraud and the sophisticated methods employed by the criminals highlighted the need for swift and decisive action.
Role of the Dubai-Based Racket
The investigation uncovered that the main orchestrator of the scam is operating from Dubai, with the assistance of five associates. These individuals were actively engaged in luring economically disadvantaged people into opening bank accounts, which were then used for cybercrimes and hawala operations. The victims were promised commissions in exchange for their participation. Mohammed Shoeb Tauqeer, one of the key individuals arrested, played a crucial role in the scam by facilitating the opening of these bank accounts and preparing the necessary documents. Once the accounts were opened, the signatures of the account holders were obtained on cheques, which were subsequently kept in the custody of one of the associates.
Money Laundering Through Cryptocurrency
The investigation also revealed that a portion of the illegally acquired funds was transferred to Dubai through cryptocurrency channels. The associates, following the instructions of the main fraudster, withdrew the money and distributed it to various individuals through a network of agents. This method of laundering money via cryptocurrency made it more challenging for the authorities to track the flow of funds, further complicating the investigation.
The Arrests and Ongoing Investigation
Shoeb, a resident of Masab Tank, and Mahmood Bin Ahmed Bawazir, a resident of Moghalpura, were apprehended by the Cyber Security Bureau. The police are actively searching for the remaining individuals involved in the scam, including the mastermind operating from Dubai. The authorities are determined to bring all those involved to justice and dismantle the entire network behind this massive cyber fraud.
Public Advisory: Avoid Involvement in Suspicious Activities
In light of the arrests and the ongoing investigation, the Telangana police have issued a public advisory urging citizens to exercise caution and avoid opening bank accounts for others or engaging in suspicious transactions. The police warned that opening a mule account—a bank account used to facilitate illegal activities—can lead to severe legal consequences. Individuals who have already opened such accounts are advised to report them immediately to the authorities via the helpline 1930 or the cybercrime portal at cybercrime.gov.in.
How to Protect Yourself from Cyber Fraud
The police emphasized the importance of vigilance when dealing with unsolicited offers to open bank accounts. It is crucial to verify the identity and credentials of anyone requesting you to open an account. Additionally, regularly monitoring your account activity can help detect any unauthorized transactions early on. By taking these precautions, individuals can protect themselves from becoming unwitting accomplices in cybercrimes and safeguard their financial assets.
Disclaimer: The information provided in this article is based on official reports from the Telangana police. Hyd Police Arrest Two in Rs 175 Crore Scam, Readers are advised to exercise caution and avoid engaging in illegal activities. The authorities are actively investigating the case and will take legal action against all those involved.
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