In Brief
- Authorities uncover ₹70 crore mule account network in Hyderabad cyber fraud probe.
- Fraud involved collecting bank details and SIM cards from 60 to 70 people.
- Accused offered ₹45 lakh for an old ₹1 currency note.
- Investigation highlights scale of cyber fraud and recovery efforts underway.
Hyderabad police investigating a cyber fraud case have uncovered a mule account network allegedly involving ₹70 crore transactions. Officials said the accused collected sensitive banking information such as bank passbooks, ATM and debit cards, internet banking credentials, and SIM cards from 60 to 70 individuals. The network facilitated large-scale fraudulent transfers.
According to police, the accused offered ₹45 lakh for possession of an old ₹1 currency note, which was part of their modus operandi. The probe aims to identify all beneficiaries and dismantle the extensive mule network operating in the region.
The investigation highlights the increasing sophistication of cyber fraud schemes in India and emphasizes the need for vigilance among bank customers to protect personal financial information. Authorities are working to trace and recover the lost funds and strengthen preventive measures against such crimes.
