Kochi’s District Police Chief, Putta Vimaladitya, revealed on Thursday that investigators suspect a broader network of Keralites is involved in a sprawling online stock trading scam. This development follows the arrest of G. Sujitha from Kollam, whose significant role in the alleged ₹25 crore fraud, which defrauded a Kochi-based pharma businessman, has become clear.
The substantial sum lost by the complainant was funneled through various bank accounts. According to Mr. Vimaladitya, the arrested woman not only facilitated these transactions through her own account but was also linked to a ‘layer 1 account’ – the initial recipient of illicit funds from victims or fraudulent sources in cybercrime schemes. Interestingly, the individual who first contacted her communicated in Malayalam, suggesting a local connection.
Recognizing the alarming increase in cyber fraud cases, police plan to launch new public awareness campaigns. The Chief noted that previous initiatives hadn’t effectively reached potential victims, emphasizing the need for innovative strategies. “We are committed to enhancing our awareness efforts,” he stated. “Our interactions with victims clearly showed a lack of understanding regarding these threats, prompting us to explore more effective methods of public education.”
Furthermore, sources suggest a potential link to Hyderabad, with investigators reportedly uncovering clues pointing to the involvement of a bank account in that city as part of the fraudulent operation.