According to media reports, the Telangana Cyber Security Bureau (TGCSB) has initiated “Operation Crackdown-1.0,” registering nine FIRs against an organised network allegedly operating mule bank accounts to channel cyber fraud proceeds across India.
The action reportedly followed a statewide analysis of data from the National Cyber Crime Reporting Portal, which indicated a layered system of accounts used to receive and transfer suspected fraudulent funds. Investigators are examining transactions routed through multiple accounts to obscure the origin of the money.
Media reports further state that several banks, including cooperative institutions such as Bhavana Rushi Cooperative Bank and Kranthi Co-operative Bank, have figured in the investigation data under review. Officials are examining possible lapses in Know Your Customer (KYC) compliance and the opening of multiple accounts within single branches.
Over 495 accounts have reportedly been linked to more than 3,000 cybercrime complaints. Four arrests have been made, and further investigation is underway.