Live
- Punjab DGP, MHA official request farmer leader Dallewal to end 20-day fast
- Stage Collapse During Swearing-In Ceremony of KUDA chairman in Kakinada
- Govt unveils ‘Jalvahak’ to boost inland waterways
- List of criminals: Delhi BJP chief on AAP panel of 38 candidates
- PSBs in India clock record Rs 1.41 lakh crore in net profit in FY24
- Telangana Government Announces Key Development Plans: Bhatti Vikramarka
- Crackdown on illegal poppy farming in Manipur: Assam Rifles destroyed 6,228 acres in 5 years
- South Korea's ruling party leader cancels press conference amid calls for resignation
- AIADMK's big meet discusses 2026 polls, prospective alliances
- BJP questions Congress-Shiv Sena (UBT) alliance over Aaditya Thackeray's Savarkar-Nehru remark
Techie-turned cyber fraudster collects Rs 2 crore in Telugu states
The Hyderabad Commissionerate’s East Zone Task Force sleuths on Tuesday arrested an interstate cyber fraudster by name M Srinivasa Rao (27), who is cheating the innocent people in the guise of providing loans and jobs to them by collecting the credentials like OTPs (One Time Password), bank accounts details.
Hyderabad: The Hyderabad Commissionerate's East Zone Task Force sleuths on Tuesday arrested an interstate cyber fraudster by name M Srinivasa Rao (27), who is cheating the innocent people in the guise of providing loans and jobs to them by collecting the credentials like OTPs (One Time Password), bank accounts details.
Police seized net cash of Rs 11.5 lakh, 3 ATM cards, 12 mobile phones, 29 SIM cards, one laptop, a bike and newspaper ad clippings from his possession.
According to City Police Commissioner Anjani Kumar, the accused after completing his M Tech in 2016, searched for many jobs and did not get any opportunities due to which he fell into financial crisis.
Later, he hatched a plan to earn easy money and started cheating the innocent persons in the name of matrimonial consultancy and arrested by Kakinada II Town Police in 2016.
When he was addicted to luxurious life and bad habits, he migrated to Hyderabad in 2017 and took a room for rent in Amberpet and procured the SIM cards. Later, he gave advertisements in Telugu newspapers in both Telugu States in the name of jobs and visas.
When job seekers contacted him, he used to introduce himself with false names and by saying that he was running a finance company and offers them loans on low interest.
He tells that in order to process the loan, the applicant need to show the minimum bank balance of Rs 10,000 for every one lakh rupees and then collects the copies of bank pass books, ATM cards and PIN numbers from the callers via WhatsApp and make them to believe that loan application is approved.
Meantime, he processes an online payment using the credentials of the victims and by procuring the OTPs from the victims and transfers the money from the victim's bank accounts to the Airtel Payments Bank account and later transfers the money to different bank amounts.
