Hyderabad Police Commissioner V. S. Sajjanar emphasized the need for banks to prevent cyber frauds by eliminating mule accounts. He proposed a dual-challenge framework to shift bank priorities towards citizen safety and institutional integrity rather than focusing solely on opening accounts. Sajjanar suggested that these challenges should be formal Key Performance Indicators at the branch level.
In a meeting with senior bank officials, the Commissioner addressed the misuse of bank accounts and the importance of enhancing cyber fraud prevention measures. This initiative followed Operation Octopus, a coordinated effort by Hyderabad City Police to dismantle organized cyber fraud networks and apprehend bank officials involved in opening mule accounts. The meeting, chaired by the Commissioner, was attended by representatives from 45 public and private sector banks.
Sajjanar stressed the goal of zero cybercrime victims and highlighted the importance of strict KYC compliance and real-time monitoring to prevent mule account openings. He urged banks to prioritize safety over account volumes and to adopt a zero-tolerance policy towards cybercrime at all organizational levels. The Commissioner also emphasized the need for empathetic customer support and proactive measures to combat cyber fraud effectively.
