Hyderabad, April 30 -- Seven bank officials were arrested by the Cyberabad Cybercrime Police in five separate cases for allegedly colluding with cybercriminals and illegally opening accounts in large-scale frauds, police stated in a release on Thursday, April 30.

According to the police, the bank officers were actively facilitating the opening of bank accounts for cybercriminals by ignoring KYC norms and verification procedures.

They also failed to initiate mandatory safeguards, reporting mechanisms, and preventive actions despite clear indicators of suspicious transactions.

Indian Bank's Assistant Manager Anusha and Branch Manager Mudavath Dinesh Chowhan, working in Kukatpally, Reddy Harish, working as Field Officer of IndusInd Bank's...