Key insights
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1
Bank accounts opened in others’ names were used to move fraud proceeds: Police said the accused induced individuals to open bank accounts and then operated those accounts to receive, transfer and launder cyber fraud proceeds.
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2
Part of the proceeds were converted into cryptocurrency: Police said the accused converted a portion of the swindled money into cryptocurrency.
Takeaways
Police in Khammam district have arrested 18 people and are seeking six more suspects in a ₹547-crore cyber fraud case linked to overseas fraudulent call centres.
Topics
Technology & Innovation Cybersecurity Investigations Law & Public Safety Crime & Justice