Cyber fraud victims from Telangana receive refunds worth Rs. 85.05 cr

Of the total amount, Rs. 36.8 crore has been refunded in the Cyberabad commissionerate, making it as the top unit in terms of refunds processed.

Hyderabad: The Telangana Cyber Security Bureau (TGCSB) facilitated refund of Rs. 85.05 crore to the victims of various cyber frauds in last five months in Telangana State.

Shikha Goel, Director, TGCSB said the result is a collaborative effort between TGCSB and the Telangana State Legal Services Authority (TGLSA). These efforts revolved around understanding the reasons behind rising cases of cybercrime and the difficulties faced by Station House Officers (SHOs) in registering First Information Reports (FIRs) through the National Cyber Crime Reporting Portal (NCRP).

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A Standard Operating Procedure (SoP) was developed by the TGCSB with the collaboration of TGLSA, during February, 2024, and distributed to all District Legal Services Authorities (DLSAs) in Telangana with the active persuasion of TGCSB.

“Since the implementation of these measures and the directives issued to all District Judges, a total of 6,840 petitions have been submitted to the courts. Refund orders have been granted for 6,449 cases, amounting to a total of Rs 85.05 crore,” said Shikha Goel.

Of the total amount, Rs. 36.8 crore has been refunded in the Cyberabad commissionerate, making it as the top unit in terms of refunds processed. The initiative represents a major advancement in providing prompt financial relief to victims of cyber fraud, establishing a new benchmark for cyber security and legal response in Telangana.

“The Cyber Security Bureau underscores the critical importance of immediate action in reporting cyber fraud within the golden hour. Immediate reporting significantly enhances the chances of freezing the fraud amount in the bank account of the accused and digital wallets, thereby facilitating potential refunds to the victims. Victims are urged to report incidents promptly by calling 1930,” the senior official said.

Basic Prevention Steps:

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

● Verify authenticity of messages/emails requesting financial transactions.

● Use strong, unique passwords for bank accounts and change them regularly.

● Software and security systems must be updated for protection

● Report suspicious activity/ cybercrime to TGCSB immediately.

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

● Enforcement agencies do not make video calls and ask for transfer of money to any account for verification purposes.