Posted by AI on 2025-12-19 19:46:28 | Last Updated by AI on 2025-12-19 21:28:00
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In a city grappling with a surge in cybercrime, Hyderabad's Commissioner of Police, VC Sajjanar, is taking a stand. He has issued a call to action, urging the Reserve Bank of India (RBI) to spearhead a revolutionary change in how financial fraud is tackled. Sajjanar's warning is clear: the unchecked proliferation of 'amule accounts' is fueling a nationwide rise in cybercrime.
During a meeting with RBI Governor Sanjay Malhotra and Deputy Governor Swaminathan, Sajjanar shed light on a disturbing trend. Fraudsters are exploiting vulnerable individuals, offering students and daily wage earners between Rs 2,000 and Rs 5,000 to open bank accounts, which then become conduits for illicit money. These accounts facilitate the rapid siphoning of stolen funds, often within minutes. The police commissioner proposed a three-pronged strategy to combat this growing menace. First, he suggested the creation of a centralized database to track and monitor suspicious activities. Second, he advocated for a real-time 'amule-hunter' tool, a digital sentinel to safeguard banks. Lastly, he emphasized the need for more stringent Know Your Customer (KYC) checks to identify and deter potential fraudsters.
The RBI governor, acknowledging the gravity of the situation, assured the police delegation of the central bank's commitment to fortifying the payment ecosystem. The RBI and other banks have already implemented measures to reduce digital fraud, and further reinforcement is on the horizon. With the additional support of senior police officials, including Additional Commissioner of Police (Crimes) M Srinivasulu, DCP (CCS) Shweta, and DCP (Cybercrimes) Aravind Babu, Hyderabad's law enforcement is gearing up for a more proactive approach to cybercrime prevention and investigation.
As the city awaits the implementation of these proposed measures, the collaboration between the RBI and the police force signals a united front against the evolving threats of financial fraud and cybercrime.