Hyderabad police crackdown on pan-India cyber fraud network, 32 bank officials among 52 held

 Police Action Against Cyber Fraud Network

PTI, HYDERABAD, APRIL 19, 2026 : Hyderabad Police on Sunday said that they have dismantled a pan-India cyber fraud network involving bank officials by arresting 52 accused across nine states. Under 'Operation Octopus 2.0', as many as 32 bank officials, 15 mule account holders and five middlemen were apprehended for complicity, Hyderabad Police Commissioner V. C. Sajjanar said in a release.

The operation launched recently led to the arrest of bank officials who were found to be in connivance in the opening of mule bank accounts, which were used to facilitate cyber frauds, he said. Police said there has been a significant rise in investment scams, trading frauds, and “digital arrest” scams, wherein fraudsters exploit victims through manipulation, intimidation, and emotional coercion, leading to substantial financial losses.

Recognising the seriousness of the situation, 'Operation Octopus–1' was conceptualised to deliver a decisive strike against these illegal networks. Through an intensive investigation into the surge of such frauds, the Cyber Crime Police Station (CCPS) uncovered a nexus of 350 bank accounts used to siphon off victims’ funds, police said. These accounts were linked to approximately 850 cases across the country involving transactions amounting to nearly Rs 150 crores, police said.

Accordingly, in February this year, 'Operation Octopus–1' was executed across 16 states by 32 police teams, resulting in the arrest of 117 accused persons. Building on the outcomes of Operation Octopus–1, Operation Octopus 2.0 was launched, they said. The operation Octopus 2.0 was executed simultaneously across nine states with 16 special teams deployed to identified bank official targets in Maharashtra, Delhi, Rajasthan, West Bengal, Karnataka, Gujarat, Andhra Pradesh, Telangana and Bihar. The operation went on for seven days, and 52 individuals, including bank officials who played pivotal roles in the execution of the fraud, were apprehended, police said.