Operation Octopus: Hyderabad Police bust 16-state cyber syndicate, 104 arrested

Hyderabad: Hyderabad Police on Tuesday announced the dismantling of a massive nationwide cybercrime network, arresting 104 suspects across 16 states in a coordinated strike dubbed "Operation Octopus."

The 10-day initiative, led by 32 specialised teams, targeted a syndicate linked to 1,055 fraud cases across India. Authorities estimate the group siphoned approximately ₹127 crore from victims through sophisticated investment schemes, trading scams, and "digital arrest" frauds.

"Operation Octopus was designed to deliver a decisive blow to these illegal networks," Hyderabad Police Commissioner V.C. Sajjanar said in a statement. He noted that the operation followed an intensive forensic probe that identified 151 bank accounts used to launder the proceeds of the crimes.

The Anatomy of the Syndicate

Investigators revealed the network relied on a hierarchy of participants to move illicit funds:

• Mule Account Holders: 86 individuals were arrested for knowingly allowing their bank accounts to be used for layering stolen money.
• Account Aggregators: 17 suspects acted as middlemen, procuring and supplying these accounts to the ringleaders.
• Banking Complicity: Among those detained was a Relationship Manager from Bandhan Bank, accused of colluding with the fraudsters to facilitate the opening of fraudulent accounts.

Under the direction of DCP (Cybercrimes) V. Aravind Babu, the raids were conducted simultaneously in states including Maharashtra, Delhi, West Bengal, Karnataka, and Uttar Pradesh.

Seizures and Surge in Scams

During the sweep, police recovered ₹36 lakh in cash and a massive haul of electronic evidence, including 204 mobile phones, 141 SIM cards, 152 bank passbooks, 234 debit and credit cards, and 26 laptops.

Sajjanar emphasised that fraudsters have increasingly turned to psychological tactics, using intimidation and emotional coercion to drain life savings. He issued a stern warning that any individual assisting these criminals, including bank officials, would face "the full force of the law."

"A clear and unequivocal message is being sent: Anyone found complicit in such crimes, regardless of stature, influence, or role, will not be spared," the Commissioner stated.

The investigation remains active as authorities seek to identify the high-level masterminds overseeing the national network.

With inputs from IANS