Cybercrime crackdown in Hyderabad focuses on suspicious transactions

Hyderabad Police, TGCSB intensify surveillance on suspicious banking activities to curb rising financial cybercrimes. Banks directed to tighten KYC protocols, report anomalies. Public awareness campaigns urge vigilance, promote reporting through helpline 1930 or cybercrime.gov.in

Hyderabad: In a step towards tackling the rising threat of financial cybercrime, the Hyderabad Police, in collaboration with the Telangana Cyber Security Bureau (TGCSB), have intensified their surveillance and enforcement strategies.

They are now focusing on and monitoring suspicious banking activities, particularly bank accounts that receive large sums of money within short periods, especially when linked to individuals without a clear source of income.

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Officials believe such accounts are often used by cybercriminals to launder money or facilitate fraudulent transactions.

With digital transactions becoming a crucial part of daily life, officials emphasise that constructive and collaborative efforts between law enforcement agencies and financial institutions are essential. As part of the crackdown, banks across the State have been asked to tighten their Know Your Customer (KYC) protocols.

This includes conducting thorough background checks during account creation and periodic reviews of customer data. Financial institutions have also been directed to flag and report suspicious transactions immediately to the authorities concerned.

“Online scams have become sophisticated, and it is of utmost importance that law enforcement agencies act proactively to counter them. Our focus is on identifying the network of money mules and dismantling the very infrastructure of financial cybercrime networks,” said a senior TGCSB official.

Banks have also been urged to enhance their scrutiny mechanisms. “Banks and financial institutions need to strengthen their KYC norms, and real-time reporting of dubious activities is crucial to prevent large-scale fraud,” added a cybercrime official.

Meanwhile, public awareness campaigns are being launched to educate citizens about the risks of sharing bank account details and to encourage prompt reporting of suspected fraud.

Citizens are advised to stay vigilant and report any unusual account activity or suspected fraud to the cybercrime helpline at 1930 or through the National Cybercrime Reporting Portal at cybercrime.gov.in.