Cyber Crime Police Refund Rs 39 L to Victim who was Cheated through Social Media

Hyderabad: The Hyderabad City Cyber Crime Police refunded Rs 39 lakh to victim, who was cheated by cyber fraudsters under the pretext of stock trading, promising substantial profits.

A complaint was received from a 34-year-old unemployed male from Hyderabad, stating that cyber fraudsters had cheated him under the pretext of stock trading (MSTOCKMAX). The fraudsters 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 under Cr.No. 2185/2024, under sections 66(C), 66(D) of the IT Act, and sections 319(2), 318(4), 338, 336(3), 340(2) of the BNS, 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 complainant’s bank account. The efforts of the Cyber Crime Unit, Hyderabad City, were appreciated by the Commissioner of Police, Hyderabad City.

Dara Kavitha, Dy Commissioner of Police, Cyber Crime Unit, Hyderabad City cautioned against fake investment social media groups i.e. Telegram, WhatsApp, X, Instagram, and Facebook, which are popping up everywhere promising high returns with little risk. She asked the public to never believe the promises of huge returns and Fake profit screenshots. “Don't fall for these scams! Always use SEBI - approved apps for investment. Always ask an SEBI registered financial advisor before investing.” She said scammer will credit a small amount in the victim's account to gain the victim's confidence and allow withdrawal amount as well. There is a possibility to get refund of at least part of the lost and put-on-hold amount, if it is reported immediately. Victims of such Cyber frauds can report immediately on the helpline number 1930 or through the national Cyber Crime reporting portal cybercrime.gov.in., she added.