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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.
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.
Authorities emphasize that 'digital arrest' is a complete fabrication, and no legitimate law-enforcement agency would conduct arrests or demand money via video calls. They advise verifying all communications through official channels and reporting any suspected cybercrime immediately to the National Cyber Crime Helpline at 1930 to aid in freezing stolen funds.
