In a major crackdown on financial fraud, the Hyderabad Cybercrimes unit arrested 52 individuals, including three senior bank officials, during a special operation conducted with seven teams. The operation led to the detection of 33 major cases, covering frauds related to trading, jobs, social media, digital transactions, investments, data theft, and cryptocurrency.
Among those arrested were Shubham Kumar Jha, a Deputy Manager at RBL Bank in Bangalore; Haroon Rasheed Imamuddin Dharawad, an Assistant Vice-President of Axis Bank in Bangalore; and Kata Srinivasa Rao, a Sales Manager in Kotak Mahindra Bank. These officials were allegedly involved in a Rs.2.98 crore trading fraud, according to Hyderabad City Police Commissioner CV Anand. Shubham Kumar Jha exploited his access to sensitive financial data to facilitate unauthorized transfers. Imamuddin Dharawad approved illegitimate transactions, bypassing banking protocols to enable large-scale fraud. Kata Srinivasa Rao recruited unsuspecting customers into fraudulent schemes and opened money laundering accounts.
The arrested individuals were wanted in 576 cases across India, including 74 cases in Telangana, with a total fraud amount of Rs.88.3 crore. During the operation, police seized 43 mobile phones, 39 ATM cards, 17 passbooks, 54 cheque books, 16 SIM cards, three laptops, 13 shell stamps, nine Aadhaar and PAN cards, three QR codes, net cash of Rs.47.90 lakh, and cryptocurrency worth Rs.40 lakh. A total of Rs.2.87 crore was frozen in the bank accounts of the accused.
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The special operation was carried out in Surat (Gujarat), Karnataka, Nellore (Andhra Pradesh), New Delhi, Uttar Pradesh, Maharashtra, West Bengal, Bihar, and Hyderabad. The Hyderabad police coordinated with units across these states using detailed intelligence and advanced investigative methods to track and apprehend the accused.
Commissioner Anand emphasized that this operation marks a significant breakthrough in dismantling organized financial fraud networks and ensuring accountability within the banking system. He urged the public to remain vigilant against such scams and report suspicious activities to authorities. With law enforcement intensifying efforts against cyber fraud, this crackdown is expected to send a strong message to those involved in financial crimes across the country.
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