Hyderabad: Cyberabad police refunded the amount of Rs 27 lakh to an online fraud victim who was cheated by fraudsters posing to be stock market experts.
The action followed the complaint lodged by the victim, as the police first contacted the banks involved and froze the contested amount’s money tail, which was later refunded to the victim after they gained a court order to grant a refund to the victim.
According to the police, cyber fraudsters contacted the victim, offering assistance in learning the stock market while promising substantial profits. They made him transfer Rs 1,31,57,363 as an investment to a host of bank accounts they provided.
Upon the victim’s complaint, Inspector N Bose Kiran and his team made efforts to contact the banks of the fraudulent accounts involved and ensured the money trail was frozen. The police team also guided the victim to file a petition in court for a refund of the frozen money, which was granted by the court in a few days.
Hyderabad police encourage citizens to report cybercrimes as soon as possible, as money lost over similar frauds can be reverted with a higher success rate if the response is immediate. One can report complaints at the toll-free number 1930 or through the website.
