The Department of Financial Services held a meeting in Hyderabad with police, RBI, and CBI officials to review rising digital frauds. The focus was on "Operation Octopus," tackling mule accounts, and urging banks to adopt RBI’s MuleHunter AI tool for better cybercrime prevention.
Hyderabad Police arrested 52 persons, including 32 bank officials, in a nationwide cybercrime crackdown under Operation Octopus–2. The operation uncovered Rs 150 crore transactions linked to 850 cases across nine States, with officials urging swift reporting of cyber frauds.
Hyderabad cyber crime police arrested 117 suspects during ‘Operation Octopus’ after conducting raids across 16 States in connection with 74 cybercrime cases. The accused were linked to over 1,081 cases nationwide, with fraud transactions worth around Rs. 139 crore.
The Hyderabad Police have executed one of the biggest cybercrime crackdowns in recent years under 'Operation Octopus'. Over 10 days, 32 special teams raided 16 states, arresting 104 individuals linked to online investment scams, trading frauds, and digital arrest schemes.
