The Hyderabad Cyber Crime Police have arrested six individuals for allegedly assisting cyber fraudsters involved in a high-return investment and trading scam. Investigators claim that the accused provided their bank accounts to cybercriminals, enabling the transfer and distribution of funds allegedly obtained through fraudulent investment schemes.
According to police, the case came to light after a city resident filed a complaint stating that he had been duped of ₹1.22 crore by fraudsters who lured him with promises of unusually high returns through online trading and investment platforms. Following the complaint, a case was registered and an investigation was launched.
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During the probe, authorities traced the movement of funds and identified several bank accounts that were allegedly used to receive and transfer the defrauded money. Police said the six arrested individuals had made their bank accounts available to the cybercriminals, allowing them to move funds through multiple transactions.
Preliminary investigations indicate that the accused hail from different parts of the country. According to investigators, they allegedly received commissions in exchange for permitting the use of their accounts. Authorities are now examining whether their involvement was limited to providing banking channels or whether they were aware of and actively involved in the broader fraud operation.
Cybercrime experts note that fraud syndicates increasingly rely on so-called “mule accounts” to conceal the trail of illegally obtained funds. Such accounts are often used to rapidly transfer money through multiple layers, making it more difficult for law enforcement agencies to trace the final beneficiaries.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh has repeatedly cautioned that online platforms promising unusually high or guaranteed returns often use social engineering tactics and financial inducements to attract victims. He advises investors to verify the legitimacy and regulatory status of any investment platform before transferring money.
Police are also investigating the total amount routed through the alleged network and whether victims from other states may have been targeted. Mobile phones, banking records, and digital devices seized from the accused are undergoing forensic examination as part of the investigation.
Cyber Crime officials have urged the public not to trust investment opportunities circulated through social media platforms, messaging applications, or unknown websites without proper verification. Authorities have particularly warned against schemes that promise exceptionally high returns within a short period.
All six accused are currently being questioned, and investigators are working to identify other individuals who may be connected to the alleged cyber fraud network. Police have indicated that further arrests cannot be ruled out as the investigation progresses.
