Malkajgiri Cyber Crime Wing Dismantles Large-Scale Investment and Job Scam Network

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Investment and Job Scams Uncovered: Malkajgiri Police Crack Down on Cyber Frauds

The Malkajgiri police have been intensifying their efforts to combat cybercrime cases, resulting in the arrest of two individuals involved in separate investment and job fraud schemes.

Chamala Balakishan Reddy, a resident of Jaipuri Colony in Nagole, allegedly supplied bank accounts to cyber fraudsters on a commission basis.
Arugonda Sai Kiran from Quthbullapur was arrested for acting as a mule account holder in a job scam.

Methods Used by Scammers:

In the first case, the scammer used social media groups offering stock trading tips to convince victims to invest through a fake platform named “FISD PRO.” Once the victim had invested, they were shown profits and allowed a small withdrawal before being asked to pay a large commission, revealing the scam.

According to authorities, the scammer would initially show profits and allow a small withdrawal to gain the victim’s trust, making it difficult to detect the scam.

In the second case, the scammer promised a victim a software job in a Pune-based company on October 5, 2024. The accused allegedly collected ₹3 lakh initially and later secured another ₹1.75 lakh in 11 transactions over three months until January 6, 2025, using fake documents and assurances. No job was provided, and the accused allegedly became unresponsive while continuing to demand money.

Refunds Processed:

Authorities have processed refunds amounting to ₹41.58 lakh for victims through court intervention during this period.

Public Advisory:

The police have advised the public to exercise caution when dealing with suspicious links, unsolicited job offers, and unknown trading applications, noting a rise in such frauds.