Hyderabad police return Rs.1.05 Cr to victims duped by cybercriminals
Hyderabad: The Hyderabad cybercrime police successfully refunded an amount of Rs.1.05 crore to victims who were defrauded by cybercriminals on the pretext of investments in trading with promises of substantial profits.
A complaint was received from a private employee aged around 52 in which he stated that cyber fraudsters deceived him with promises of profits from trading in an institutional account on ‘Lazardoosvip.Top,’ leading him to transfer an amount of approximately Rs.1.22 crore to bank accounts provided by fraudsters, the police said.
In response, the Cybercrime police registered a case under Sections 66(C), 66(D) of the IT Act, and Sections 319(2), 318(4), 338, 336(3), and 340(2) of the IPC.
Inspector K. Madhusudhan Rao and his team, under the supervision of DCP Cyber Crimes D. Kavitha, worked diligently to address the complaint. The team issued notices to bank officials, requesting to freeze the fraudulent accounts, and guided the complainant in filing a petition in court to reclaim the withheld funds.
After obtaining court orders, authorizing to return the amount, the police refunded Rs.1.05 crore to the victim’s account.
In an advisory, Hyderabad Police Commissioner CV Anand asked the people to be careful of fake investment advertisements popping up on various social media platforms promising high returns with little risk.
“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 a SEBI registered financial advisor before investing. Scammers will credit a small amount in the victim's account to gain the victim's confidence and allow withdrawal amount as well,” he advised.
There is a possibility to get a 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 dial 1930 or http://cybercrime.gov.in
