Home Crime Cyber crime surge raises concerns: Rs 175 Crore scam uncovered in Hyderabad
Cyber crime Hyderbad

Cyber crime surge raises concerns: Rs 175 Crore scam uncovered in Hyderabad

by rtvenglish
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Recent reports highlight a troubling rise in cyber crimes, with Hyderabad emerging as a hotspot for such activities. A major cyber fraud has been uncovered in the old city area, where scammers siphoned off  Rs 175 crore from a bank. The fraudulent transactions were conducted through a bank in the Pata Basti locality, with the involvement of two auto drivers who facilitated the scheme. These drivers, identified as Ahmad Shahid and Bin Ahmad, opened six bank accounts at the State Bank of India (SBI) to aid the cyber criminals in executing the transactions.

Funds were transferred from Hyderabad to Dubai, Indonesia, and Cambodia using cryptocurrency. The Cyber Security Bureau eventually identified these illegal transactions at SBI. Within just two months, the scammers managed to embezzle Rs 175 crore from the six accounts. The police have arrested the suspects and are currently conducting an investigation into the matter.

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