Hyderabad cybercrime police refund Rs 39 lakh to fraud victim-Telangana Today

Hoping to make easy money, the victim deposited money in installments but soon realized that he was being cheated as he could no longer withdraw money after a certain point.

Hyderabad: The Hyderabad Cyber ​​Crime Police has refunded an amount of Rs 39 lakh to a victim who was recently duped by cyber fraudsters in stock trading fraud in the city.

The 34-year-old unemployed victim had to transfer a total of Rs 78.70 lakh to various bank accounts provided by the scammers. Hoping to make easy money, the victim deposited money in installments but soon realized that he was being cheated as he could no longer withdraw money after a certain point.

Following a complaint, the Cybercrime Police filed a case and initiated an investigation. Notices were sent to the bank officials followed by them to freeze the fraudulent amount. The complainant was also guided to petition the court for reimbursement of the amount remaining in the fraudulent accounts.

Public advice:

*Beware of fake investment groups on social media that promise high returns with little risk

*Never believe the promises of huge returns and fake profit screenshots.

*Use SEBI – approved apps for investments. Consult a SEBI registered financial advisor before investing.

*Scammer will credit a small amount to the victim’s account to gain the victim’s trust and also allow withdrawal.

*There is a possibility to recover at least part of the lost and held amount if reported immediately.