Speed & Coordination Essential in Combating Rising Cybercrime Threats, Asserts C.V. Anand, Hyderabad Police Chief

(Judicial Quest News Network)

Hyderabad, January,28,2025. In a high-stakes meeting aimed at tackling the surge in digital frauds, Mr. C.V. Anand, the Director General & Commissioner of Police (DG & CP) of Hyderabad, emphasized the critical need for speed in addressing cybercrimes. He stressed that “Speed is the essential quality and the need of the hour” to combat the growing menace, highlighting the importance of swift action and seamless coordination between law enforcement agencies (LEAs), financial institutions, and intelligence agencies.

The meeting, which brought together senior officials from major banks, the Reserve Bank of India (RBI), and law enforcement agencies, was convened to address the rising tide of digital fraud and cybercrime. In a detailed presentation, Commissioner Anand underscored the significant hurdles law enforcement faces in investigating such crimes. A key challenge, he noted, is the delays in obtaining crucial information from banks, including refunds and account statements. These delays, he explained, not only hamper the pace of investigations but also prolong the agony of victims, preventing them from recovering their funds in a timely manner.

Highlighting the Complexities of Cybercrime

Commissioner Anand went on to explain the sophisticated tactics employed by cybercriminals. These criminals often use multiple accounts, shell companies, and VPNs to conceal their activities, making it incredibly difficult to track illicit transactions. He pointed out the lapses in compliance protocols, such as the improper opening of current accounts and the exploitation of mule accounts by fraudsters, which further complicate investigations. “Please don’t misconstrue this as a complaint,” he urged. “Let us team up for the benefit of the people.” He also acknowledged and praised the efforts of bank officials who had acted swiftly to prevent fraudulent transfers, emphasizing the importance of quick intervention.

To address these pressing issues, Commissioner Anand presented a set of actionable recommendations from the Cyber Crimes Unit of Hyderabad City Police (HCP). These included the implementation of geo-based account verification, real-time monitoring systems, and multi-factor authentication protocols—all designed to better combat the growing sophistication of cyber fraud.

RBI Officials Stress Need for Swift and Standardized Communication

Mr. Kamal Prasad Patnaik, the RBI Regional Director, echoed the urgency of the situation, stressing the need for accelerated response times, awareness campaigns, and the standardization of communication channels. He proposed measures to avoid duplicate freeze requests and recommended the establishment of a single point of contact for banks, as well as an alternate officer to handle emergencies. One of the key outcomes of the meeting was the agreement to create an escalation matrix within banks to ensure quicker action on fraud-related issues.

RBI General Manager Smt. Ruchi Asthana shared insights from the Central Economic Intelligence Agency’s standard operating procedures (SOP) for combating financial fraud. Legal advisors from leading banks, including HDFC, SBI, and Axis Bank, also contributed their perspectives, offering valuable suggestions to improve coordination between banks and law enforcement agencies.

Creating a Unified Response to Cyber Fraud

The meeting concluded with a series of important decisions aimed at enhancing the response to cybercrime. A major step forward was the decision to initiate monthly coordination workshops between banks and law enforcement agencies. These workshops will focus on refining investigative processes, sharing knowledge on emerging fraud patterns, and improving collaboration to preempt fraudulent activities before they occur.

Additionally, a committee has been formed to draft a comprehensive Standard Operating Procedure (SOP) to address critical issues such as court refund orders, multiple account holds, and the efficient release of funds. The committee will include Deputy Commissioner of Police (Cyber Crimes) Kavitha, Mr. Biksham Reddy, and legal representatives from major banks. Their goal will be to develop uniform guidelines for handling such issues and create standardized formats for information sharing between LEAs and banks, streamlining the overall response mechanism.

A Unified Front Against Cybercrime

Reiterating the importance of a unified approach, Commissioner Anand expressed confidence that the measures discussed during the meeting would greatly enhance the effectiveness of investigations and provide much-needed relief to victims of cyber fraud. He called for continued collaboration between all stakeholders—law enforcement, financial institutions, and intelligence agencies—to stay ahead of the rapidly evolving tactics used by cybercriminals.

By adopting these forward-thinking strategies and fostering a culture of swift, coordinated action, Hyderabad aims to lead the way in combating the growing cybercrime epidemic, ensuring a safer digital environment for all.