Thiruvananthapuram: In a major breakthrough against financial cybercrime, the Thiruvananthapuram City Cyber Crime Police have arrested a prime suspect involved in a deposit fraud racket that duped a city-based doctor of nearly ₹3.5 crore. The police identified the accused as Dhanush Narayanaswamy, a Bengaluru native, who allegedly led the operation.
According to investigators, the gang lured victims by promising unusually high returns on online deposits. Trust was gradually built through continuous communication on WhatsApp and Telegram, after which the fraudsters convinced the victim to make large transfers. The money, once deposited, was quickly routed through multiple accounts and later converted into cryptocurrency, enabling the group to smuggle the proceeds abroad.
The doctor from Ulloor, Thiruvananthapuram, lost ₹3.43 crore in the scam before realizing he had been duped. He then filed a complaint, setting the investigation in motion.
During the probe, police traced the fraudulent transactions to a company account in Bengaluru. Further checks revealed that the firm itself was fictitious, created solely for the purpose of conducting deposit fraud. Acting swiftly, a team tracked down Narayanaswamy in Bengaluru and arrested him on September 29.
When authorities examined his bank records, they managed to recover ₹1.2 crore from his account a significant portion of the stolen amount. The arrested accused was brought to Kerala on September 30 and produced before a court, which remanded him to judicial custody.
The arrest was the result of coordinated efforts by a special squad formed in view of the rising number of cyber fraud cases in the state. The operation was led by Thiruvananthapuram City Police Commissioner Thomson Jose, under the supervision of Deputy Commissioner of Police (Law and Order & Traffic) Farash T.
The field team included Cyber Crime Police Station SHO & Assistant Commissioner Prakash K.S, Inspector Shameer M.K, Sub-Inspector Girish, and CPO Abhijith, who successfully tracked and apprehended the accused.
The case highlights the alarming growth of sophisticated cyber scams in Kerala, particularly those linked to cryptocurrency and online deposit schemes. Police officials have urged citizens to remain vigilant against offers of unrealistic profits and to verify the authenticity of any financial scheme before investing.
Authorities also warned that criminal syndicates are increasingly using digital platforms to target vulnerable individuals, stressing that public awareness and swift reporting are crucial to prevent financial losses.