Telangana cybercrime wing recovers Rs 85.05 Cr lost in online frauds

Hyderabad: Telangana Cyber Security Bureau (TGCSB) has recovered Rs 85.05 crores belonging to the victims of various cyber frauds across Telangana, from March to July in 2024.

The operation was the result of successful collaborative efforts between TGCSB and the Telangana State Legal Services Authority (TGLSA).

Victims’ funds stuck in bank accounts

The operation addressed a major concern in cybercrimes which is the prolonged holding of fraudulent funds in banks without returning them to victims.

To streamline the filing of petitions under Section 457 of the Criminal Procedure Code (CrPC), a Standard Operating Procedure (SOP) was developed by the TGCSB with the collaboration of the TGLSA in February and distributed to all District Legal Services Authorities (DLSAs) in Telangana with the active persuasion of TGCSB.

The efforts focused on the increasing cybercrimes causing substantial financial losses to citizens and the difficulties faced by Station House Officers (SHOs) in registering First Information Reports (FIRs) through the National Cyber Crime Reporting Portal (NCRP).

Breakdown of the refund process

Since the implementation of these measures and the directives issued to all district judges on February 20, 2024, a total of 6,840 petitions have been submitted to the courts. Refund orders have been granted for 6,449 cases, amounting to Rs 85.05 crore. Of this amount, Rs 36.8 crore has been refunded in the Cyberabad Commissionerate, marking it as the top unit for refunds processed.

The collaboration between TGCSB and TGLSA, along with the active participation of the Telangana High Court, underscored a strong legal framework designed to address the financial consequences of cybercrimes on citizens.

Importance of ‘Golden Hour’

The Cyber Security Bureau underscored the critical importance of immediate action in reporting cyber fraud within the ‘golden hour.’ i.e. at the very moment it is realised or suspected that you have been a victim of a crime.

Immediate reporting significantly enhances the chances of freezing the fraud amount in the accused’s bank accounts and digital wallets, thereby facilitating potential refunds to the victims.

Victims are urged to report incidents promptly by calling 1930 or visiting the national Cyber Crime Reporting Portal.

Preventive tips to avoid online fraud

- Do not share personal or financial information online with unknown persons/entities.

- Verify the authenticity of messages or emails that request financial transactions.

- Use strong, unique passwords for different accounts and change them regularly. Keep your software and security systems updated to protect against vulnerabilities. Report any suspicious activity or cybercrime to TGCSB immediately.

- Remember that stock investment only happens through the DMAT account, and stock exchange and not through any company websites.

- Remember that no law enforcement agencies ever make video calls and ask for transfer of money to any account for verification purposes.