Fake Account Network Exposed: 70 Accounts Linked to ₹60‑70 Crore Cyber Fraud

A recent bust by Hyderabad’s cyber‑crime police has uncovered a network that supplied around 70 bogus bank accounts to criminal groups. The operation, linked to roughly 450 cyber‑crime investigations nationwide, facilitated transactions totalling between ₹60 crore and ₹70 crore. The two arrested suspects are 39‑year‑old Gummma Ramesh of Ramantapur and 19‑year‑old Mudale Anil. Investigators say the duo lured victims through a Facebook post that claimed they could exchange an old one‑rupee note for a payment of ₹45 lakh, ultimately extracting ₹7.93 lakh from the complainant. Both men confessed to gathering bank passbooks, ATM cards, online banking IDs and SIM cards from a range of individuals, offering them a share of the proceeds. Ramesh, originally from Bidar district in Karnataka, moved to Hyderabad after facing financial difficulties and took up taxi driving. He then approached students and delivery partners, securing their banking details for a fee. The collected information was shipped to accomplices in Haryana, where it was used to defraud hundreds of victims. Anil contributed by opening three new savings accounts across different banks and handing over the credentials.