Hyderabad: Cyber Criminals Exploiting Victim Accounts to Launder Fraud Money

After obtaining victims' bank details, fraudsters transfer illegally acquired funds into their accounts.

Hyderabad: Cyber Criminals Exploiting Victim Accounts to Launder Fraud Money

Hyderabad: Cyber Criminals Exploiting Victim Accounts to Launder Fraud Money

Hyderabad: Cyber Fraudsters Exploit Victims' Bank Accounts for Money Laundering in New Donation Scam

Hyderabad: In a new form of online scam, cyber fraudsters are targeting people by seeking donations under the guise of philanthropy, using the names of well-known Hyderabad-based individuals. Scammers are manipulating unsuspecting victims into sharing their bank details, which are then used to transfer illegally obtained funds.  

Victims have reported receiving WhatsApp calls from unknown numbers, including those beginning with the Pakistan ISD code “+92.” The fraudsters pose as charitable individuals offering financial assistance to families in distress. Once the victims express their need for help, the scammers inquire about the required amount and assure them that the funds will be transferred soon. They then ask for bank account details, IFSC codes, and even personal photographs via WhatsApp.  

According to officials from the Telangana Cyber Security Bureau, fraudsters use these details to manipulate victims by instilling fear and coercing them into compliance.  

Once they obtain the bank details, scammers transfer money acquired through fraudulent activities into the victims' accounts, using them as a channel to launder funds. The Hyderabad Cyber Crime police have warned that cybercriminals are constantly evolving their tactics to gather bank information and avoid detection.  

Fraudsters Exploiting Victims for Bigger Scams

Officials revealed that the fraudsters use the victims' bank accounts to execute larger scams. Funds are deposited into these accounts and subsequently transferred elsewhere to cover their tracks. Additionally, the scammers collect photographs of victims to threaten and pressure them if they refuse to comply with their demands.  

Authorities have urged citizens to remain cautious and avoid sharing personal banking details with unknown callers. They are also advising the public to report any suspicious activity to cybercrime authorities to prevent further exploitation.

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