Operation Octopus: Cyber Fraud Syndicate Busted Across 16 States, 104 Arrested

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Nationwide Crackdown on Organized Cybercrime

A nationwide crackdown on organized cybercrime has resulted in the dismantling of a large-scale fraud syndicate operating across 16 states in India. The operation, codenamed “Operation Octopus,” was conducted by the Hyderabad City Police and led to the arrest of 104 individuals.

The Syndicate’s Activities

The syndicate was found to be involved in a range of cybercrimes, including investment frauds, trading scams, and a new type of cybercrime known as “digital arrest.” This emerging threat involves fraudsters impersonating law enforcement officers or foreign trading experts and using psychological pressure to extort money from victims.

The Investigation

The investigation, which spanned nearly ten days, involved 32 special teams deployed across multiple states. During this time, police identified 151 bank accounts used to transfer money obtained through fraudulent means. Of those arrested, 86 were found to be mule account holders, 17 were account suppliers or aggregators, and one was a bank official accused of providing internal financial assistance.

The bank official, a relationship manager at Bandhan Bank, was allegedly involved in facilitating the syndicate’s financial transactions. The investigation revealed that the syndicate was linked to 1,055 cyber fraud cases across the country, with total losses estimated at approximately ₹127 crore.

Seized Assets and Ongoing Investigation

Police seized ₹36 lakh in cash during the raids, as well as 204 mobile phones, 141 SIM cards, 152 bank passbooks, 234 debit and credit cards, and 26 laptops. The seized digital devices are currently undergoing forensic analysis to identify other members of the syndicate and trace financial channels.

Modus Operandi

According to officials, the syndicate primarily used social media and online platforms to lure victims with promises of unrealistic investment returns. In some cases, fraudsters would threaten victims with legal action under the “digital arrest” method to force them to transfer money.

The investigation found that the syndicate quickly routed cheated money through multiple accounts, converting it into cryptocurrency and other irregular financial channels.

Police Response and Warning

The Commissioner of Hyderabad City Police, V. C. Sajjanar, stated that cybercrime has become a serious threat to society and that the police will continue to adopt a zero-tolerance policy against such networks. He added that investigations are ongoing and efforts are being made to reach higher-level operators of the syndicate.

Experts warn that this type of cybercrime is particularly dangerous due to its combination of technology, financial networking, and psychological pressure. The public has been advised to remain cautious, especially when receiving calls or messages promising abnormal investment profits, urgent payments, or threatening legal action to extract money.

Conclusion

The success of Operation Octopus is seen as a significant milestone in the fight against organized cybercrime, and police have stated that further suspicious networks will be identified and targeted in the coming days to curb the growing menace of online fraud.