Telangana Cybercrime officials have arrested two individuals involved in a massive ₹175 crore fraud. (Representational image: DC)
Hyderabad: Telangana Cybercrime officials have arrested two individuals involved in a massive ₹175 crore fraud. The accused, identified as Mohammed Shoeb Tauqeer (34) from Vijaynagar Colony and Mahmood Bin Ahmed Bawazir (43) from Moghalpura, were apprehended following a detailed investigation by the Telangana Cyber Security Bureau (TGCSB), as stated by Shikha Goel, Director of TGCSB.
The case, registered under Crime No. 28 of 2024, includes charges under Section 66D of the IT Act and Sections 318(4), 319(2), and 338 of the BNS Act. The investigation was initiated after the Cyber Security Bureau's data analysis team flagged numerous complaints reported on the National Cybercrime Reporting Portal (NCRP) against six bank accounts in the State Bank of India (SBI) Shamsheergunj branch.
"Large sums of money were transacted through these accounts over a short period, specifically between March and April of this year, raising suspicions of significant cyber fraud," said Shikha Goel. The investigation linked approximately 600 complaints to these accounts.
The primary suspect, operating from Dubai, along with five associates, allegedly coerced vulnerable individuals into opening bank accounts, which were then used for cyber crimes and hawala operations. Shoeb played a pivotal role in this scheme, handling the documentation and account openings.
After securing the bank accounts, the suspects obtained the account holders' signatures on cheques, which were retained by one of the associates. A portion of the defrauded funds was reportedly sent to Dubai via cryptocurrency, while the remaining money was withdrawn and distributed locally by the fraudsters.
In February 2024, Shoeb and his associates convinced several individuals to open six current accounts at SBI's Shamsheergunj branch, promising them commissions. In just two months, these accounts saw transactions totaling approximately ₹175 crores.
The investigation is ongoing, and TGCSB officials have warned the public against opening bank accounts on behalf of others or engaging in suspicious transactions. Those who have already opened such accounts are urged to report them immediately to the authorities via the 1930 helpline or cybercrime.gov.in.
This operation was conducted under the supervision of SP Devender Singh, with Dy. SPs Hari Krishna and K.V.M. Prasad leading the investigation. Inspectors D. Srinu, Mahender, and constables Venkat Goud, Syed Taher, Krishna Swamy, and Shanker also participated in the operation.
The case, registered under Crime No. 28 of 2024, includes charges under Section 66D of the IT Act and Sections 318(4), 319(2), and 338 of the BNS Act. The investigation was initiated after the Cyber Security Bureau's data analysis team flagged numerous complaints reported on the National Cybercrime Reporting Portal (NCRP) against six bank accounts in the State Bank of India (SBI) Shamsheergunj branch.
"Large sums of money were transacted through these accounts over a short period, specifically between March and April of this year, raising suspicions of significant cyber fraud," said Shikha Goel. The investigation linked approximately 600 complaints to these accounts.
The primary suspect, operating from Dubai, along with five associates, allegedly coerced vulnerable individuals into opening bank accounts, which were then used for cyber crimes and hawala operations. Shoeb played a pivotal role in this scheme, handling the documentation and account openings.
After securing the bank accounts, the suspects obtained the account holders' signatures on cheques, which were retained by one of the associates. A portion of the defrauded funds was reportedly sent to Dubai via cryptocurrency, while the remaining money was withdrawn and distributed locally by the fraudsters.
In February 2024, Shoeb and his associates convinced several individuals to open six current accounts at SBI's Shamsheergunj branch, promising them commissions. In just two months, these accounts saw transactions totaling approximately ₹175 crores.
The investigation is ongoing, and TGCSB officials have warned the public against opening bank accounts on behalf of others or engaging in suspicious transactions. Those who have already opened such accounts are urged to report them immediately to the authorities via the 1930 helpline or cybercrime.gov.in.
This operation was conducted under the supervision of SP Devender Singh, with Dy. SPs Hari Krishna and K.V.M. Prasad leading the investigation. Inspectors D. Srinu, Mahender, and constables Venkat Goud, Syed Taher, Krishna Swamy, and Shanker also participated in the operation.
( Source : Deccan Chronicle )
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