SBI manager, gym trainer held in Rs 175 cr cyber fraud case in Telangana

Fraud uncovered after numerous complaints on the National Cybercrime Reporting Portal

A State Bank of India (SBI) branch manager and a gym trainer have been arrested in Telangana in connection with a Rs 175 crore cyber fraud.

Madhu Babu Gali, was employed at SBI's Shamshergunj branch in Hyderabad. According to media reports, Gali allegedly conspired with others to open current bank accounts that were used for the illegal diversion of funds. In return for facilitating these activities, Gali allegedly received substantial commissions.

The alleged fraud was uncovered when the Telangana Cyber Security Bureau's data analysis team noted complaints on the National Cybercrime Reporting Portal (NCRP) regarding six bank accounts at the branch. Some 600 complaints had been made about these accounts.

Modus operandi

Fraudsters allegedly lured vulnerable individuals with promises of commissions in exchange for opening bank accounts, which were then used for cybercrimes and hawala operations.

During the investigation, cyber sleuths discovered that, over a period of two months, from March to April 2024, large sums of money had been transacted through these accounts. On August 24, police arrested two other suspects, Mohammed Shoeb Tauqeer and Mahmood Bin Ahmed Bawazir, who were associated with the crime. The mastermind behind the operation, who is believed to reside in Dubai, remains at large.

Be vigilant: Cyber police
 

Following the incident, the Telangana Cyber Security Bureau underlined the importance of verifying the identity of anyone requesting the opening of a bank account. The bureau also urged the public to monitor their bank account activity closely.

Anyone who suspects that they may have opened a "mule" account, which could be used to launder money, is advised to report it immediately to the authorities via the cybercrime helpline (1930) or the website cybercrime.gov.in.