Hyderabad: TheHyderabad police have dismantled a fraud syndicate operating across multiple states, arresting 52 individuals including 32 banking officials and seizing large quantities of cheques and digital equipment. The operation, code-named Operation Octopus 2.0, was spearheaded by the Cyber Crime wing. DCP Cybercrimes V Aravind Babu executed a coordinated operation with 16 special teams comprising seasoned investigators across nine Indian states in a span of seven days. The teams launched a massive crackdown on cybercrime syndicates operating across the country, targeting networks involved in online investment scams, trading frauds, and digital arrest schemes.
Following an intensive investigation into the rise of such frauds, the Cyber Crime Police identified a nexus of 350 bank accounts used to siphon off funds. This includes 15 mule account holders, five account suppliers, and one banking official. These accounts were linked to 850 cases registered across India, involving a total fraud amount of approximately Rs 150 crore. Police seized 26 mobile phones, 14 cheque books, two pen drives, 21 shell stamps, and a laptop. Previously, in February 2026, Operation Octopus 1 was executed across 16 states by 32 police teams, resulting in the arrest of 117 accused persons.
The DCP said that building on the outcomes of the first phase, Operation Octopus 2.0 was launched this week with a focused objective of targeting bank officials who were found to be in connivance in the opening of mule bank accounts. These accounts facilitated cyber frauds registered at Cyber Crime, Hyderabad. The Hyderabad City Police has adopted a strict zero-tolerance policy towards cybercrime. As part of this approach, Operation Octopus is an ongoing initiative to dismantle organised syndicates.
The investigation is actively progressing to identify higher-level operatives. Teams were simultaneously deployed to hotspots in Maharashtra, Delhi, Rajasthan, West Bengal, Karnataka, Gujarat, Andhra Pradesh, Telangana, and Bihar. Police advise citizens who suspect they have been victims to take immediate action by calling the National Helpline 1930. They should also lodge formal complaints via the National Cyber Crime Reporting Portal or visit the nearest police station to file an FIR. Citizens can also utilise the C-Mitra initiative to facilitate filing e-FIRs conveniently to ensure swift legal action.
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