Who was arrested in the Rs 16 crore cyber fraud case?

An interstate network of educated professionals, including business consultants and finance experts, were arrested for their involvement in high-value frauds.

What types of scams were involved in the Rs 16 crore fraud?

The scams included 'digital arrest' cons and sophisticated investment schemes, such as fake trading platforms and impersonation of law enforcement.

What is the advice from the Telangana Cyber Security Bureau regarding 'digital arrests'?

The bureau stresses that 'digital arrest' is a myth and no Indian law enforcement agency will ever arrest someone over a video call or demand money to clear their name.

Home / Crime and Justice / Educated Pros Nabbed in Rs 16 Cr Cyber Scams

Educated Pros Nabbed in Rs 16 Cr Cyber Scams

28 Jan

•

Summary

Interstate network of educated professionals busted by TGCSB.
Over Rs 16 crore lost to digital arrest and investment scams.
Arrested individuals included business consultants and finance experts.

Educated Pros Nabbed in Rs 16 Cr Cyber Scams

The Telangana Cyber Security Bureau has dismantled an interstate network involved in high-value financial frauds, totaling over Rs 16 crore. The operation targeted sophisticated scams, including 'digital arrest' cons and investment schemes, which have caused significant financial losses to Hyderabad residents. Arrests were made across Kerala and Bengaluru, revealing a surprising group of perpetrators: educated professionals such as business consultants, finance experts, and even a chartered accountancy aspirant.

These professionals acted as 'agents,' providing mule accounts to international syndicates, often based in Cambodia or Vietnam, to facilitate the instant siphoning of funds from India. The scams involved impersonating officials from TRAI, CBI, and RBI to coerce victims into transferring money under false pretenses of criminal activity or parcel verification. One victim lost Rs 3.40 crore to a fake trading platform promising high IPO returns.