Man held for providing his bank ac to cyber fraudsters in Hyderabad 'Commission'

Mohd Ashfaq (33) from the city for his alleged involvement in an online trading fraud that cheated a victim of Rs 49.90 lakh.

The arrest followed a complaint lodged through the 1930 cybercrime helpline and at the Cybercrime Police Station.

According to the police, the victim was added to a WhatsApp investment group promising high returns through stock trading and IPO investments. After initially being allowed to withdraw small profits, the victim was persuaded to deposit larger amounts into bank accounts shared by the



fraudsters. When he refused to invest further, he was blocked from the group, prompting him to realise the fraud.

“Ashfaq provided his bank account to cyber fraudsters on a commission basis. Around Rs 3.70 crore was routed through his account, which was later used to divert funds with OTPs obtained from him. The account has been linked to 29 cybercrime cases across multiple States,” cybercrime officials said.

Police have warned the public against unsolicited investment offers and sharing bank details with unknown persons