Hyderabad police warn of ‘One victim–One account’ cyber fraud tactic

Hyderabad cybercrime police have warned of a new fraud method where each victim transfers money to a separate bank account, making it harder to freeze funds. Authorities have arrested over 150 people and urged citizens not to share or rent bank accounts.

Hyderabad: The Hyderabad cybercrime police have warned of a new money-laundering method adopted by online fraudsters, in which each victim is made to transfer funds into a separate bank account.

Officials say the ‘One victim – One account’ strategy is designed to prevent timely freezing of accounts and hinder recovery of stolen money. Earlier, fraudsters routed money from multiple victims through common mule accounts, allowing police to trace and block transactions in some cases.

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“When a cybercrime victim deposits funds into the bank account, the fraudster quickly withdraws or transfers the money, often using digital platforms into their personal accounts. This makes the job of police difficult to intervene and freeze the mule accounts before the money is withdrawn,” said a cybercrime official from Hyderabad.

The use of single bank accounts per victim poses challenges for law enforcement agencies. Unlike cases involving multiple mule accounts, where funds can sometimes be traced through intermediary transactions, the direct transfer into a single account allows fraudsters to quickly disperse the funds, leaving little trace.

Police have also uncovered a racket involving rented and shared bank accounts. Lured by promises of quick cash, individuals are allowing their accounts to be used for scams linked to digital arrests, fake investments and stock market frauds. Authorities say savings accounts are being opened rapidly across banks, sometimes with the alleged involvement of bank staff.

So far, more than 150 account holders and several bank employees have been arrested for their suspected role. Brokers are reportedly paying thousands of rupees for each usable account, increasing demand for fresh accounts.

Police have cautioned citizens against sharing or renting bank accounts and advised them to report suspicious requests for personal documents. Vulnerable groups such as small traders, homemakers, auto drivers and daily wage workers are being specifically targeted, officials warned.