Hyderabad: Mule accounts and ghost SIMs are the lifeline of cybercrime networks and must be eliminated through coordinated efforts, city police commissioner V.C. Sajjanar said here on Friday. He asked banks, telecom operators, regulators and law enforcement agencies to pitch in with measures to end the menace.
He remarked that the country should aspire to see a day when a bank can proudly display a board stating, “This Bank Has No Mule Accounts.”
Emphasising the importance of swift reporting, he urged citizens to remember 1930, the National Cyber Crime Helpline Number, describing it as the “golden hour” lifeline for victims. The faster a fraud is reported, the greater the chances of freezing and recovering the money, he added.
Cybercrimes are among the most organised forms of crime anywhere in the world, operating across jurisdictions and leveraging technology, social engineering and sophisticated fraud mechanisms to target unsuspecting citizens, he observed.
Highlighting the scale of the challenge, he noted that Hyderabad alone is losing nearly Rs 1 crore every day to cyber frauds, underlining the urgent need for collective action.
“We need to address these issues holistically. Law enforcement agencies, banks, telecom companies, technology providers, educational institutions, industry bodies and citizens must work together to build a secure digital ecosystem,” he said.
Calling awareness the most powerful weapon against cyber fraud, he stated: “The most important aspect in combating cybercrime is creating awareness. Every citizen should take an oath that ‘I will not fall prey to cyber fraudsters.’ Prevention through awareness is far more effective than recovery after a fraud has occurred.”
He was addressing over 200 participants, including industry leaders, bankers, cybersecurity professionals, legal experts, government officials and citizens, a press release issued by the commissioner’s office stated.
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