To prevent the threat of Cardiovascular Disease (CVD) related deaths, the usage of mobile phone based computational platforms, body sensors and wireless communications is proliferating. Since mobile phones have limited computational resources, existing PC based complex CVD detection algorithms are often unsuitable for wireless telecardiology applications. Moreover, if the existing Electrocardiography (ECG) based CVD detection algorithms are adopted for mobile telecardiology applications, then there will be processing delays due to the computational complexities of the existing algorithms. However, for a CVD affected patient, seconds worth of delay could be fatal, since cardiovascular cell damage is a totally irrecoverable process. This paper proposes a fast and efficient mechanism of CVD detection from ECG signal. Unlike the existing ECG based CVD diagnosis systems that detect CVD anomalies from hundreds of sample points, the proposed mechanism identifies cardiac abnormality from only 5 sample points. Therefore, according to our experiments the proposed mechanism is up to 3 times faster than the existing techniques. Due to less computational burden, the proposed mechanism is ideal for wireless telecardiology applications running on mobile phones.