Hyderabad: The Hyderabad Cybercrime police have been able to help victims recover a significant portion of their losses by acting quickly within the “golden hour” after a cybercrime incident.
In one case, a 30-year-old software developer from Nizamabad lost Rs 15 lakh in an investment scam, but was able to recover Rs 6 lakh through the efforts of the Telangana Cyber Security Bureau (TGCSB) and the Telangana Government Legal Services Authority (TGLSA) at a Lok Adalat.
Similarly, a 34-year-old woman from Karimnagar lost Rs 17.2 lakh while looking for a part-time job online, and was able to recover Rs 7.4 lakh.
According to a report by The Hindu, filing a complaint within the first hour, or the “golden hour”, the banks can quickly freeze the stolen funds, giving a high chance of recovery, often 90-100% of the lost amount.
Telangana is reportedly the first state to initiate this refund process, and other states have since followed suit.
In another recent case, a victim lost Rs 60 lakh in a fraudulent scheme but was able to thwart the fraud by reporting it within the first hour.
The victim, a 42-year-old businessman from Hyderabad, had received a call from a person claiming to be from the Income Tax Department, who asked him to deposit money into a bank account to clear a tax liability.
The victim deposited Rs 60 lakh into the account but immediately reported the incident to the police, who were able to freeze the funds and recover the money.
Additionally, a 28-year-old woman from Warangal lost Rs 12 lakh in a similar scam, where she received a call claiming to be from the police, asking her to deposit money into a bank account to clear a fine. She reported the incident within the golden hour and was able to recover Rs 8.5 lakh.
These cases highlight the importance of reporting cybercrimes promptly to minimize losses.
The Hyderabad Cybercrime police have been actively educating the public about the “golden hour” concept and the need to report cybercrimes quickly to ensure maximum recovery of lost funds.
