Businessman’s instant cyber complaint helps in saving Rs.50 lakh in Hyderabad

Hyderabad: A swift action by the Cybercrime Unit (CCU) helped a 53-year-old businessman to save ₹50.87 lakh from cyber fraudsters.

According to the CCU, the victim lodged a complaint stating that on December 16 he received a WhatsApp message promoting trading on the PML Pro app. Subsequently, fraudsters posing as the customer service team advised him to deposit money for investment in IPO allotments.

After his investment, the app blocked his withdrawal requests and demanded additional funds. In multiple transactions, the victim invested ₹1,31,48,500.

“Following the complaint, we made an entry on the NCRP, the portal of CCU, regarding the fraudulent transactions and escalated to the victim's bank for further investigation,” CCU ACP R.G. Shva Maruti told Deccan Chronicle.

During the follow-up, our teams found four transactions totaling ₹ 50, 87,500 with UCO Bank, categorised under layer 1, which we successfully put on hold, Shiva Maruthi said.

In his comments, Hyderabad police commissioner C.V. Anand said, “I appreciate the efforts of the Cyber Crime Unit, Hyderabad, that saved ₹ 50.87 lakh of the victim by reacting spontaneously, our teams are investigating the cyber fraudsters very soon. We will get them.”

“The citizens should avoid investments based on unsolicited calls, messages, or social media posts, as they may be fraudulent and not legitimate,” said Dara Kavitha, DCP, Hyderabad cyber crimes. These scammers use fake trading apps to by promising large profits and sharing fake profit screenshots, Kavitha said.

The modus operandi of the fraudsters is to create fake social media profiles, invite victims, build trust, share success stories, and promise high returns. Afterwards, they will credit a small amount in the victim's account to gain the victim's confidence to download mobile apps from trusted sources like legitimate websites or authorised app stores.

“There is a possibility to get a refund of at least a part of the lost money, if it is reported immediately. Victims of cyber frauds should call immediately on 1930 or report www.cybercrime.gov.in,” the DCP further said.