Hyderabad, May 8 (Maxim News): Cyberabad Police conducted a coordination meeting with bankers from across the commissionerate on Friday to strengthen response mechanisms against rising cybercrime cases. The meeting took place at the Cyberabad Commissionerate auditorium and focused on improving coordination between banks and law enforcement agencies.
The discussions mainly covered mule accounts, freeze and defreeze procedures, refund processes, and faster handling of digital fraud investigations.
Addressing the meeting, M. Ramesh said cybercrime has emerged as one of the biggest threats in society. He stated that many people are losing huge amounts of money through online scams, fake investment schemes, pre launch offers, call centre frauds, cryptocurrency scams, and other digital crimes.
The Commissioner said several victims lost their life savings due to cyber fraud, causing severe financial distress to families. According to Cyberabad Police, cyber fraud losses reached Rs 438 crore in 2025. Moreover, losses worth nearly Rs 104 crore have already been reported in 2026 so far.
Cyberabad Police seek faster banking coordination
The Police Commissioner said awareness about cybercrime is increasing through media and social media platforms. However, he stressed that stronger preventive measures and quicker institutional coordination are still necessary.
Ramesh urged banks to secure customer data, stop mule account operations, and provide timely assistance during investigations. He also asked banks to establish dedicated and centralized cyber cells for faster response to complaints and better coordination with police agencies.
The Commissioner appealed to the public to remain cautious while investing money online. He advised people to verify offers carefully, report suspicious transactions immediately, and avoid assisting cybercriminals knowingly or unknowingly.
During the meeting, T. Sai Manohar highlighted several challenges faced during cybercrime investigations. He said delays in receiving account statements, KYC documents, freeze confirmations, and other banking details often slow down investigations.
Officials stressed that controlling mule accounts is critical to reducing cybercrime activities. They stated that once an account is frozen, banks should not permit debit transactions under any circumstances. In addition, banks must immediately report attempted transactions on frozen accounts.
Sai Sri explained NCRB cybercrime data and emphasized the need for stronger coordination between banks and police agencies. He said every bank should create a dedicated Cybercrime Response Desk with updated nodal officer details and backup staff for emergency communication.
Officials also advised banks to train branch staff on cybercrime response procedures and share relationship manager details for corporate accounts to improve communication during investigations. According to police officials, these measures would reduce delays, improve investigations, strengthen banking security, and protect customers from digital fraud.
A question and answer session was also conducted to resolve procedural and communication gaps between banks and investigating agencies.
Representatives from HDFC Bank, Bank of Baroda, Axis Bank, State Bank of India, ICICI Bank, Bank of India, Telangana Grameena Bank, HDB Financial Services, and Kotak Mahindra Bank attended the meeting.
Senior officers including Quthbullapur DCP Koti Reddy, Crimes DCP A. Muthyam Reddy, DCP Cyber Crimes T. Sai Manohar, and CSB DCP Sai Sri also participated in the programme.(Maxim News)
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