TG cybercrime police arrested two city-based persons who were involved in frauds to the staggering tune of Rs 175 crore.
Hyderabad: TG cybercrime police arrested two city-based persons who were involved in frauds to the staggering tune of Rs 175 crore.
“Based on reliable information our team registered a suo motu case in crime number 28 of 2024 under section 66D of the IT Act, and sections 318(4), 319(2), and 338 of the BNS Act and took up investigation”, she said.
The case was investigated by the cyber security bureau's data analysis team that detected numerous complaints reported on the NCRP portal against six bank accounts in SBI, Shamsheergunj.
“Upon careful verification, it was revealed that large sums of money were transacted through these accounts in March and April. The account holders were suspected to be involved in a massive cyber fraud,” Shikha said.
Investigation revealed that approximately 600 complaints are linked to these accounts. The main fraudster, operating from Dubai, and his five associates used to lure unsuspecting people into opening bank accounts and for use in cybercrimes and hawala operations on a commission basis.
Shoeb played a key role in opening bank accounts and preparing all documents. Later, the signatures of the account holders were obtained on cheques, which were then kept in the custody of one of the associates, she said.
Some of the money was sent to Dubai through cryptocurrency. The associates withdrew the money following the directions of the main fraudster and distributed it to various individuals through his agents.
Shoeb and other associates convinced some poor individuals to open six current accounts in SBI's Shamsheergunj branch in February, offering them handsome commissions.
In March and April, significant transactions occurred in these six accounts, totalling approximately Rs 175 crore. The case is still under investigation, the TGCSB director said.
The accused, identified as Mohammed Shoeb Tauqeer (34) of Vijaynagar Colony and Mahmood Bin Ahmed Bawazir (43) of Moghalpura, were arrested for their involvement in the scam, said Shikha Goel, director TGCSB said.
“Based on reliable information our team registered a suo motu case in crime number 28 of 2024 under section 66D of the IT Act, and sections 318(4), 319(2), and 338 of the BNS Act and took up investigation”, she said.
The case was investigated by the cyber security bureau's data analysis team that detected numerous complaints reported on the NCRP portal against six bank accounts in SBI, Shamsheergunj.
“Upon careful verification, it was revealed that large sums of money were transacted through these accounts in March and April. The account holders were suspected to be involved in a massive cyber fraud,” Shikha said.
Investigation revealed that approximately 600 complaints are linked to these accounts. The main fraudster, operating from Dubai, and his five associates used to lure unsuspecting people into opening bank accounts and for use in cybercrimes and hawala operations on a commission basis.
Shoeb played a key role in opening bank accounts and preparing all documents. Later, the signatures of the account holders were obtained on cheques, which were then kept in the custody of one of the associates, she said.
Some of the money was sent to Dubai through cryptocurrency. The associates withdrew the money following the directions of the main fraudster and distributed it to various individuals through his agents.
Shoeb and other associates convinced some poor individuals to open six current accounts in SBI's Shamsheergunj branch in February, offering them handsome commissions.
In March and April, significant transactions occurred in these six accounts, totalling approximately Rs 175 crore. The case is still under investigation, the TGCSB director said.
The accused have committed over 600 cybercrime frauds. They have been booked for forgery and cheating by impersonation, said K.V.M Prasad, DSP TGSCB said
“We are checking about how Shoeb and his associates had in March and April made transactions by misusing the current accounts of the victim”, Prasad said.
( Source : Deccan Chronicle )
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