Malkajgiri cybercrime police arrest five in online investment fraud cases

The Malkajgiri Cybercrime Police arrested five persons across Gujarat, Kerala, and Tamil Nadu in connection with three online investment frauds. Victims were lured via fake apps and WhatsApp groups, with losses running into crores; Rs 12.54 lakh was refunded.

Hyderabad: The Malkajgiri Cybercrime police arrested five persons in connection with three online investment fraud cases during a special drive between March 1 and 7.

The suspects who were traced to Gujarat, Kerala and Tamil Nadu, allegedly provided bank accounts to fraudsters on commission to route cheated money.

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Police said victims were lured through fake trading apps and WhatsApp groups promising high returns. The frauds caused losses running into crores of rupees.

Officials also facilitated refunds of Rs 12.54 lakh to victims.

Cybercrime officials advised citizens to verify investment platforms through Securities and Exchange Board of India before investing.