Cyberabad police flag bank delays in freezing fraud accounts
To address these concerns, Cyberabad Police held a high-level coordination meeting with bankers from across the Cyberabad jurisdiction
By - Newsmeter Network
Cyberabad Commissioner of Police Avinash Mohanty addressing the bankers during a high-level coordination meeting at his office on Friday.
Hyderabad: Delays by banks in responding to police requests for account statements, KYC documents and critical transaction details are seriously hampering cybercrime investigations, Cyberabad Police officials said on Friday.
They also flagged abnormal delays in executing freeze orders, confirming freeze status and processing defreeze requests, allowing scammers valuable time to move illicit funds.
Police made it clear that once an account is frozen, no debit transactions must be allowed under any circumstances and any attempted activity should be reported to the police immediately.
Better cooperation and faster responses
To address these concerns, Cyberabad Police held a high-level coordination meeting with bankers from across the Cyberabad jurisdiction at the Commissioner’s Office auditorium.
The session focused on resolving operational delays, strengthening cooperation and ensuring faster responses in cybercrime-related financial cases.
Cyber fraud bigger threat than conventional crimes: CP
Cyberabad Police Commissioner Avinash Mohanty said cyber fraud has emerged as one of the most serious threats in the region. Citizens are falling prey to online scams, fake investment schemes, pre-launch offers and other digital frauds, resulting in massive financial losses.
Many victims, he said, have lost their life savings, pushing families into severe financial distress. The Commissioner observed that the financial impact of cybercrime today is often greater than that caused by traditional crimes such as robbery or snatching.
Call for centralised cyber cells in banks
Mohanty urged major banks, including SBI, to set up centralised cyber cells to ensure faster handling of cybercrime complaints. He stressed the need for stronger systems to help victims recover their defrauded money.
He also appealed to the public to remain vigilant, verify investment offers carefully and report suspicious transactions without delay.
Strict data protocols and stronger KYC measures
Banks were instructed to submit account statements in Excel format with all mandatory fields, including narration, transaction ID, debit and credit entries, and running balance. Beneficiary names must strictly match bank records to avoid discrepancies.
The need for better coordination in cases involving multiple freeze orders was also highlighted. Police directed banks to proactively flag suspicious transactions and strengthen KYC norms to curb the growing misuse of mule accounts.
Cybercrime desks, nodal officers made mandatory
Each bank was directed to establish a dedicated Cyber Crime Response Desk with updated nodal officer contact details, including backup officials.
