Hyderabad: Cybercrime police bust int’l racket

Hyderabad: The Hyderabad cybercrime police arrested a person from Kerala on charges of providing several bank accounts, operating fraudulent transactions, and colluding with cyber fraudsters.

As per the complaint, the complainant was cheated by the cyber fraudsters under the guise of institutional trading to earn enormous profits and was tricked into sending over Rs 18.60 lakh to their bank accounts.

A case was registered under 173/2024 U/sec 66(C), (D) ITA Act-2008, and 419, 420 Indian Penal Code, and police investigated it.

The accused was Shabi NH (46) and his associate Nishanth conspired with cybercriminals operating out of foreign nations, such as Dubai, Hong Kong, and China, among others, to defraud the public under the guise of engaging in institutional trading to receive enormous returns. Shabi provided nine bank accounts to defraud innocent individuals.