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Hyderbad Police Bust Major Cyber Fraud Network, 52 Arrested Across 9 States
Hyderbad Police, under Operation Octopus 2.0, arrested 52 suspects across nine states, including 32 bank employees. The crackdown targeted bank officials who allegedly helped cybercriminals open and operate mule accounts to transfer illicit money, with raids yielding multiple items as evidence.
Why It Matters
The operation highlights alleged insider involvement in financial crime and demonstrates cross-state policing efforts to dismantle large cyberfraud networks.
Timeline
6 Events
Public guidance and ongoing investigation
April 20, 2026
Authorities urged citizens not to share OTPs or bank details, avoid clicking unknown links, and never transfer bank accounts to others. Victims can report cyber fraud by calling 1930 or via the official cybercrime portal. Further arrests are expected as investigations continue.
Evidence seized during raids
April 20, 2026
During raids, police seized 26 mobile phones, 14 cheque books, 21 fake company stamps and other items used to create and operate fraudulent accounts.
Geographic scope of raids
April 20, 2026
Police teams conducted raids across Maharashtra, Delhi, Karnataka, Telangana, and other states as part of the week-long operation.
Insider involvement and banks named
April 20, 2026
Authorities said the network involved bank insiders who helped move stolen money through fake mule accounts. Banks named include Bank of Baroda, Bandhan Bank, and IndusInd Bank; roles included managers, clerks, and KYC staff.
Arrests announced under Operation Octopus 2.0
April 20, 2026
Hyderbad Police announced a week-long crackdown under Operation Octopus 2.0, resulting in the arrest of 52 suspects across nine states, including 32 bank employees.
Context: Operation Octopus 1.0 referenced
April 20, 2026
Officials noted that the current crackdown follows Operation Octopus 1.0, which earlier led to over 100 arrests and exposed hundreds of fake accounts linked to large-scale fraud.