How Did Odisha Police Arrest a Cyber Fraudster from Hyderabad?
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Synopsis
In a significant breakthrough, the Odisha Police have arrested a notorious cyber fraudster from Hyderabad, who reportedly duped a victim of over Rs 47 lakhs under the pretext of lucrative share trading. This case highlights the urgent need for awareness regarding online scams.
Key Takeaways
- Cyber fraud is a serious issue, especially in online trading.
- Victims should report incidents promptly to the authorities.
- Always verify the credentials of anyone offering financial advice.
- Be cautious of unsolicited investment opportunities.
- Education and awareness are key to preventing cyber scams.
Bhubaneswar, May 20 (NationPress) The Odisha Police apprehended a cyber fraudster from Hyderabad in Telangana, who allegedly defrauded an individual of over Rs 47 lakhs under the guise of share trading, as stated by the crime branch in a press release on Tuesday.
The report elaborated that the victim, a resident of Cuttack, filed a complaint on May 21, 2024, claiming he had been swindled by unidentified cyber con artists who promised substantial returns from investments in IPO and OTC trading.
The complainant further mentioned that the cyber fraudsters convinced him to engage in trading activities, resulting in a transfer of Rs 47,20,000 to accounts specified by the perpetrators.
In spite of initial financial setbacks, the scammers persuaded him to invest even more in online trading. When he tried to withdraw his funds, the criminals demanded further payments and refused to release his money.
Realizing he had been victimized, the complainant later filed a case. The crime branch subsequently initiated an investigation, examining transaction records and other digital evidence related to the incident.
The police successfully arrested a cybercriminal identified as Syed Iqbal Hussain (45) in Hyderabad. The crime branch noted, “The accused and his accomplices posed as trading analysts, revealing that they deceived the victim of Rs 47,20,000 under the pretense of IPO, Shares, and OTC Trading.”
The arrested individual was brought to Odisha on transit remand and presented in court in Cuttack on Tuesday. The investigative team confiscated various incriminating items, such as mobile phones, SIM cards, chat screenshots from WhatsApp, Aadhar cards, etc. Additionally, several bank accounts linked to the fraudsters have been frozen.
Point of View
This case underscores the persistent threat of cyber fraud in our increasingly digitized world. As more individuals engage in online trading, the need for vigilance and education on cyber threats has never been more crucial. The Odisha Police's swift action is commendable and serves as a reminder to the public about the importance of reporting suspicious activities.
NationPress
08/06/2025
Frequently Asked Questions
What was the amount involved in the cyber fraud?
The amount involved in the cyber fraud exceeded Rs 47 lakhs.
Where was the fraudster arrested?
The fraudster was arrested in Hyderabad, Telangana.
What methods did the scammers use?
The scammers posed as trading analysts and lured the victim with promises of high returns from IPO and OTC trading.
What actions were taken by the police?
The police launched an investigation, arrested the suspect, and seized incriminating materials related to the case.
How can one protect against cyber fraud?
To protect against cyber fraud, always verify the legitimacy of investment opportunities, and be wary of offers that seem too good to be true.
