Bank account fraud on a rise in Visakhapatnam; Police arrest 8 individuals for looting Rs 10 cr

On the orders of Visakhapatnam Police Commissioner Dr A Ravi Shankar, IPS, under the command of Joint Police Commissioner Dr K Fakkirappa, IPS, the Cyber Crime Police in Visakhapatnam have arrested eight individuals involved in bank account fraud, by selling accounts to cyber criminals for illegal transactions. These eight individuals collectively opened 31 current bank accounts across the State, selling 8 of these accounts to cyber criminals and facilitating their illegal activities. The accused in this crime were Sankabattula Sai Charan (28, Hyderabad), Puli Avinash (29, Hyderabad), Yallabandi Ramakrishna (28, Hyderabad), Mohammad Irfana (29, Hyderabad), Setty Yernibabu (21, Vizag), Immandi Rajendra (22, Anakapalli), Pallanthi Satish (24, Visakhapatnam) and Duda Vamsikrishna (29, Visakhapatnam).

Using these eight accounts, cybercriminals have defrauded victims across the country, conducting transactions worth approximately  Rs 10 crores. The criminals targeted educated young women, young men, and unemployed individuals in Visakhapatnam and Hyderabad, convincing them to open current and savings accounts with promises of easy money. The cyber criminals deposited funds collected from their victims into these accounts, then converted the money into cryptocurrency, which was transferred abroad.

These accounts have been linked to a total of 79 complaints registered in the National Cybercrime Portal across various states including Andhra Pradesh (8 complaints), Bihar (3 complaints), Delhi (2 complaints), Goa (1 complaint), Gujarat (9 complaints), Haryana (5 complaints), Karnataka (6 complaints), Kerala (4 complaints), Maharashtra (13 complaints), Punjab (2 complaints), Rajasthan (6 complaints), Tamil Nadu (4 complaints), Telangana (13 complaints), and Uttar Pradesh (3 complaints).

Modus Operandi of the Criminals

Cyber criminals contact individuals via unknown WhatsApp numbers, Telegram, or other media, offering money or commissions for bank accounts. Once respondents provide their bank account and internet banking details, the linked phone number is changed to control the account. The individuals are contacted by criminals, who send money for the account details. The provided accounts are then used for illegal transactions, collecting money from cyber fraud victims, or converting money into cryptocurrency or Bitcoin.

In view of the rise in crime, A Ravi Shankar has urged bank officials in Vizag to exercise due diligence when opening new accounts. This includes verifying KYC documents and ensuring the legitimacy of registration certificates, GST numbers, labour certificates, PAN cards, and other documents. Bank officials should personally inspect the premises associated with new accounts to verify authenticity. Strict legal action will be taken against those who fail to adhere to these guidelines.

The Police Commissioner has also warned agents who issue mobile SIM cards that oper biometric verification must be conducted, and any misuse, such as issuing multiple SIM cards without customer knowledge, will result in strict action. SIM cards obtained fraudulently are often used by cyber criminals to conduct their activities.

If any Visakhapatnam resident is approached by a fraud with offers to open a bank account for money, they are advised to immediately contact Cyber Crime Inspector K Bhavani Prasada Rao at 9490617917, the control room at 0891-2565454, or the CP WhatsApp number at 9493336633.

Anyone who has been duped by cyber criminals can report the incident by calling 1930 to help recover lost funds.

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