A major interstate cyber fraud syndicate operating in Hyderabad has been busted with the arrest of six individuals involved in supplying mule bank accounts and SIM cards to online trading scammers. The Hyberabad Cybercrime police confirmed that the group played a key role in frauds amounting to over Rs1 crore.
The arrested accused have been identified as V Srinivas Rao, Ch Ganesh, G Naveen Kumar Reddy, S Rajesh, M Sudheer, and Mohd Ashraf, all residents of Telangana and Andhra Pradesh.
According to police officials, the syndicate procured bank accounts and mobile SIM cards before handing them over to cybercriminals who operated fraudulent trading platforms. On these fake platforms, victims were shown manipulated dashboards and falsified profit statements designed to build trust. Once convinced of the fake gains, users transferred their money into the mule accounts supplied by the gang.
A senior police officer revealed that a forensic analysis of seized electronic devices uncovered crucial evidence. Among the discoveries were images of 60 cheque leaves and large volumes of digital data. The investigation has connected the syndicate to around 400 cyber fraud cases across India, with three cases falling under the hyberabad jurisdiction.
Police said the group operated on a commission-based structure, earning either a fixed fee per account or a percentage of the total fraudulent transaction value. Investigators also learned that one member of the syndicate was supplying mule accounts to international fraud operators via Telegram.
Authorities are continuing their efforts to locate additional suspects who are believed to be part of the wider racket and are still absconding.
