Article Today, Vijayawada:
A young man from Vijayawada, Shravan Kumar, has been arrested by Hyderabad police for his alleged role in a massive cyber fraud worth Rs. 500 crore. Investigators revealed that he created nearly 500 mule accounts to move illegal funds. Money obtained through cyber links was routed into these accounts and later transferred to fake companies.
Network of Fake Firms
Police said Shravan set up special mule accounts linked to six different companies. He diverted funds into these accounts and circulated them across several layers to avoid detection. By misusing advanced technology, he was able to mislead law enforcement for months. Experts note that gaps in digital banking security and lack of awareness among people have made such crimes easier.
Nationwide Gang Connections
The fraud did not remain confined to Andhra Pradesh or Telangana. Shravan was allegedly working with cybercrime gangs operating across the country. These gangs used mobile applications and fake websites to cheat unsuspecting citizens. They shared the profits through a well-organised system. With this arrest, police hope to weaken a larger national network of fraudsters.
Call for Stronger Laws
Officials believe that thousands of such gangs continue to operate across India. Many have demanded stricter laws from both the Centre and States to curb the menace. Experts warn that unless decisive action is taken, cyber fraud will continue to grow with devastating consequences for digital banking.
Awareness as the First Line of Defence
Authorities are urging citizens to be alert while making online transactions. People have been advised not to trust suspicious calls or messages and to report them immediately to cybercrime police. Investigators emphasise that public vigilance remains the strongest safeguard against such frauds.
