Hyderabad: Cyber Crime Police Refund Rs 39 Lakh To Victim

The Hyderabad cyber crime police refunded Rs 39 lakh to a person who was cheated by cyber fraudsters under the pretext of stock trading promising him substantial profits.

A complaint was received by the police from a 34-year-old unemployed man from Hyderabad, that cyber fraudsters had cheated him under the pretext of stock trading (MSTOCKMAX). The criminals made him transfer an amount of Rs 78,70,500 to bank accounts provided by the accused.

In response, the Cyber Crime police, Hyderabad, registered a case and initiated investigation. Inspector K Madhusudhan Rao, along with PCs Venkatesh and Sampath, sent notices to the bank officials, followed up with them to freeze the fraudulent amount, and guided the complainant to file a petition in court for the refund of the amount held in the fraudulent accounts to the his own bank account.

The efforts of the officers were appreciated by the Commissioner of Police, Hyderabad.

Dara Kavitha, Deputy Commissioner of Police, Cyber Crime Unit, Hyderabad, cautioned against fake investment groups in social media platforms including Telegram, WhatsApp, X, Instagram and Facebook, which promise high returns with little risk. She asked the public to never believe the promises of huge returns and fake profit screenshots, and to always use SEBI-approved apps for investment. She said that scammer would credit a small amount first to gain the person's confidence and allow withdrawal as well.

She also said that there was a possibility of getting a refund of at least part of the lost and put-on-hold amount if it was reported immediately. Victims of such cyber frauds could report immediately on the helpline number 1930 or through the national cyber crime reporting portal cybercrime.gov.in, she said.