Cyberabad police have arrested seven persons across multiple States in connection with seven cybercrime cases detected between May 27 and June 2, including trading frauds, digital arrest scams and other cyber-enabled financial crimes.
Officials said three of the seven cases were linked to trading frauds, two involved digital arrest scams and two were categorised under operation crackdowns on cyber-enabled financial crimes. The cybercrime wing also said it had processed and secured 304 refund orders in 77 cases from the court, amounting to ₹90,25,688, which will be refunded to victims.
Seven Cases Detected In One Week
The arrests were made by the cybercrime wing of the Cyberabad police after cases were detected over the course of a week, officials said on Friday. The cases involved different forms of online financial deception, with trading frauds accounting for the largest share among those reported during the period.
Officials said further investigation is under way into the wider network behind the frauds and the financial trail linked to the accused persons.
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₹1.24 Crore Trading Scam Highlighted
In one major case highlighted by officials, police busted a fake stock trading and IPO investment scam in which a victim was cheated of ₹1.24 crore through a fraudulent online trading platform. The platform allegedly displayed fabricated profits and later blocked withdrawals.
Investigators said the victim was added to a WhatsApp group titled “Market Exchange”, where fraudsters posed as investment advisers. They lured him with promises of high returns from stock market trading, IPO allotments and block deals. The victim was initially allowed to withdraw a small amount to build trust, after which he was repeatedly pushed to invest larger sums into multiple bank accounts.
Accused Bank Account Holder Arrested
When the victim tried to withdraw the remaining funds, the accused allegedly demanded additional commission payments and falsely showed successful withdrawals on the platform without transferring any money.
In connection with the case, police arrested Abhishek Anand, a resident of Uttar Pradesh, for allegedly providing his bank account to cyber fraudsters to receive and route proceeds of crime in exchange for commission. Police urged the public to be cautious of investment offers promising guaranteed returns, verify trading platforms before transferring money, avoid sending funds to unknown bank accounts and report cyber fraud immediately through the national cybercrime portal or helpline 1930.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
