Hyderabad, May 9 (TNT): Cyberabad Police on Saturday conducted a coordination meeting with representatives of various banks to strengthen measures aimed at checking mule accounts and improving response to cybercrime cases.
The meeting, held at the Cyberabad Commissionerate office in Hyderabad, focused on improving coordination between banks and police in handling cyber frauds, account freeze procedures, refunds and digital crime investigations.
Addressing the meeting, Cyberabad Police Commissioner M. Ramesh said cybercrime had become a major threat, with people losing large amounts of money through online scams, fake investment schemes, call centre frauds and cryptocurrency-related crimes.
He said cyber fraud losses in Cyberabad stood at ₹438 crore in 2025, while losses of around ₹104 crore had already been reported in 2026 so far.
The Commissioner stressed the need for banks to prevent mule accounts, secure banking data and extend timely cooperation to investigating agencies.
DCP Cyber Crimes T. Sai Manohar highlighted delays faced during investigations in obtaining account statements, KYC documents and freeze confirmations from banks.
Officials said stopping mule accounts was crucial to controlling cybercrime activities and advised banks to establish dedicated cybercrime response desks with updated nodal officer details for quicker coordination.
Representatives from several banks, including HDFC Bank, Axis Bank, SBI and ICICI Bank, attended the meeting along with senior police officials.
TNT TS
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