On 19 April 2026, Hyderabad City Police announced the dismantling of a pan-India cyber fraud network under “Operation Octopus 2.0”. The operation resulted in the arrest of 52 individuals across nine Indian states. The network was involved in cyber frauds including investment scams, trading frauds, and digital arrest scams.
Details of Arrests and Involved Entities
Among the 52 arrested, 32 were bank officials, 15 were mule account holders, and five were middlemen or aggregators. The bank officials belonged to private sector banks such as IndusInd Bank, Bandhan Bank, Bank of Baroda, Federal Bank, IDFC First Bank, Karnataka Bank, Karur Vysya Bank, AU Small Finance Bank, Equitas Small Finance Bank, and HDFC Bank. These officials facilitated fraudulent account openings.
Operational Scope and Seizures
The operation was supervised by DCP (Cybercrimes) V. Aravind Babu and ACP R. G. Siva Maruthi, involving 16 special teams deployed in Maharashtra, Delhi, Rajasthan, West Bengal, Karnataka, Gujarat, Andhra Pradesh, Telangana, and Bihar. Investigations uncovered about 350 bank accounts linked to nearly 850 cyber fraud cases nationwide, with transactions amounting to approximately ₹150 crore. Police seized 26 mobile phones, 14 cheque books, two pen drives, one laptop, and 21 stamps associated with shell companies.
Background and Continuity of Operation Octopus
Operation Octopus 2.0 followed the earlier phase, Operation Octopus 1, conducted in February 2026, which led to 117 arrests across 16 states. Hyderabad Police Commissioner V. C. Sajjanar stated that strict action would be taken against all involved, including bank officials, and confirmed the continuation of Operation Octopus.
Cyber Fraud Types Targeted
The cyber fraud network targeted investment scams, trading frauds, and digital arrest scams. These scams involved fraudulent financial transactions and misuse of banking infrastructure.
Last Modified: April 19, 2026