Hyderabad Man Arrested for Massive Online Scam

Citizen Assistance

Posted by AI on 2026-01-06 16:04:28 | Last Updated by AI on 2026-03-22 10:34:23

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In a significant development in the fight against cybercrime, the Hyderabad Police have arrested a 33-year-old man, Mohammed Ashfaq, for his involvement in a sophisticated online trading fraud that duped a local resident out of nearly 50 lakh rupees. This arrest uncovers a complex web of deceit, shedding light on the growing sophistication of cybercriminals and the challenges faced by law enforcement.

The victim, a Hyderabad resident, was lured into a fake investment scheme circulated via WhatsApp, where he was promised high returns. The scheme, operated by a group of fraudsters, used a well-crafted strategy to gain the victim's trust. Initially, they showed profits and allowed withdrawals, encouraging further investment. However, after substantial deposits, the victim was blocked and removed from all communication channels when he refused to invest more.

The investigation revealed a crucial detail: Ashfaq's bank account was a central cog in this fraudulent operation. He allowed cyber fraudsters to use his account for a commission, facilitating the movement of crores of rupees linked to online stock market scams across India. The account was used to route approximately 3.7 crore rupees, which were then diverted through internet banking using OTPs obtained from Ashfaq. This case highlights the alarming reach of the scam, with the same bank account linked to 29 cybercrime cases across multiple states, including Telangana, Karnataka, Maharashtra, Gujarat, and Odisha.

The Hyderabad Police's swift action in apprehending Ashfaq is a crucial step in combating cybercrime. This case serves as a stark reminder of the evolving tactics employed by online fraudsters and the need for constant vigilance and robust cybercrime prevention measures. As the investigation unfolds, it will be crucial to trace the network of cybercriminals involved and bring them to justice, ensuring the safety of online financial transactions for all citizens.

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