T''gana Cyber Security Bureau arrests three persons in investment cyber fraud case

Hyderabad, Jul 20 (PTI) The Telangana Cyber Security Bureau (TGCSB) has arrested three persons here in an investment cyber fraud case in which the complaint had allegedly transferred over Rs 3 crore to the fraudsters, official sources said on Sunday.
    The complainant, a resident of Hyderabad, stated that he received a message via a messaging app with an invitation link, the Bureau said in a release.
    Out of curiosity, he clicked the link and joined a group on the app. The group shared regular updates on market trends, block trades, and IPOs, it said.
    Influenced by group admin and his assistant, the complainant joined an app using a link provided. Over a period of time, they advised him to invest in block trading and IPOs, claiming that they could facilitate purchases through "Institutional Investors" for assured allotment and high returns, it said.
    Believing this, the complainant transferred Rs 3,24,85,000 between May 30 and July 9, 2025. He was able to withdraw Rs 5,00,000 once on June 20. However, when he tried to withdraw again on July 8, although the application showed a successful transaction, the money was not credited to his account.
    When he contacted customer care, he was asked to pay an additional 15 per cent to release the amount. Realising it was a scam, he filed a complaint, the release said.
    During investigation, it was found that the money transferred from his bank account was withdrawn by the accused. It was also found that the withdrawn amount was converted into crypto(USDT).
    While three persons who were involved in operating the bank accounts were arrested in the city on July 19, the two persons who had initially contacted the complainant over the messaging app are expected to be in Cambodia. An investigation is underway to trace their real identity and location, the release said.
    It said the fraud appears to have originated from abroad. The prime accused, expected to be operating from foreign countries, are contacting Indians on the messaging apps and luring the victims in the name of high returns.
    Getting attracted to the offer, victims follow their instructions and transfer money into the private bank accounts furnished by the fraudsters. These private bank accounts are being provided by some Indians for the sake of commission, it said.
    The TGCSB strongly advised the public not to get involved in converting hard cash into crypto, as it amounts to money laundering. Offers of crypto at cheap rates are often linked to the proceeds of crime, it added.
    The citizens are urged to avoid interactions with unknown individuals online and stay vigilant to protect themselves from falling victim to such cybercrimes, the release added.

(This story has not been edited by THE WEEK and is auto-generated from PTI)