Operation Octopus 2.0: 52 Arrested in Cyber Fraud Crackdown

• 52 arrested, including 32 bank employees
• Crackdown spans nine states in week-long operation
• Fake accounts used to route stolen money
• Police seize phones, cheque books, fake company stamps

GG News Bureau
Hyderabad, 20th April: In a major nationwide crackdown, Hyderabad Police have busted a large cyber fraud network under ‘Operation Octopus 2.0’, arresting 52 suspects, including 32 bank employees, across nine states.

The operation targeted a network of insiders in banks such as Bank of Baroda, Bandhan Bank and IndusInd Bank, who allegedly helped cybercriminals open and operate mule accounts to route незаконные funds.

Nationwide Raids
Police teams conducted coordinated raids across multiple states, including Maharashtra, Delhi, Karnataka and Telangana, over a week-long operation.

During the raids, officials seized 26 mobile phones, 14 cheque books and 21 fake company stamps, which were allegedly used to create and manage fraudulent accounts.

Inside Network Exposed
Cybercrime DCP V. Aravind Babu said the network involved bank insiders facilitating illegal financial transactions.

“We are tracking the full money trail,” he said, adding that the investigation is ongoing.

Hyderabad Police Commissioner V. C. Sajjanar warned that strict action will be taken against all those involved, regardless of their position.

Part of Larger Crackdown
Officials said this action follows ‘Operation Octopus 1.0’, which had led to over 100 arrests and exposed hundreds of fake accounts linked to cyber fraud.

Public Advisory Issued
Police urged citizens to remain vigilant against cyber fraud, advising them not to share OTPs or bank details, avoid suspicious links and never allow others to use their bank accounts.

Victims have been asked to report incidents via helpline 1930 or the official cybercrime portal.

Further Action Likely
Authorities said more arrests are expected as the probe expands and the financial trail is analysed.