Rising digital fraud cases have pushed cybercrime losses in Cyberabad to nearly Rs 104 crore so far in 2026, raising fresh concerns over the growing impact of online scams and financial fraud in Hyderabad.
At a coordination meeting with bankers held on Friday, May 9, Cyberabad Police Commissioner Dr M Ramesh said cybercriminals are increasingly targeting people through fake investment schemes, online scams, cryptocurrency frauds, pre-launch offers, and call centre scams. He warned that many victims are losing their life savings and facing severe financial distress.
The meeting included representatives from major banks such as HDFC Bank, SBI, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and Bank of Baroda. Discussions focused on improving coordination between banks and police to speed up cybercrime investigations.
The Commissioner urged banks to establish dedicated and centralised cyber cells to ensure quicker response and better cooperation during investigations.
DCP Cyber Crimes T Sai Manohar highlighted delays in receiving account statements, KYC records, and freeze confirmations from banks, calling them a major obstacle in cybercrime probes. He stressed that controlling mule accounts, which are used to transfer and launder stolen money, is critical to reducing cyber fraud cases.
Police officials also directed banks to ensure that no debit transactions are allowed once an account is frozen. Any attempted transaction from frozen accounts must be reported to the police immediately. Concerns were also raised over delays in freeze and defreeze procedures.
CSB SP Sai Sri, referring to NCRB data, recommended that every bank create a dedicated Cybercrime Response Desk with updated nodal officer details and backup staff for faster communication.
Officials also suggested branch-level cybercrime training for bank employees and sharing relationship manager details for corporate accounts to improve response times during emergencies.
The Cyberabad Police Commissioner also appealed to the public to stay cautious while dealing with investment offers online, verify suspicious claims carefully, and report fraud attempts immediately.
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