Hyderabad: Businessman loses money in cyberfraud, gets partial refund

A 37-year-old man fell victim to cyber fraud when scammers contacted him with promises of high returns in stock trading. The fraudsters convinced him to transfer a total of ₹7,25,000 in installments to bank accounts they provided.

Hyderabad: The Hyderabad Cybercrime unit refunded an amount of Rs 5.2 lakh belonging to a businessman from the city, who was duped by cyber fraudsters to the tune of Rs 7.2 lakh on pretext of stock trading, promising substantial profits.

The 37-year-old complainant was contacted by the cyber crooks claiming good profits in stock trading. They made him transfer an amount of Rs 7, 25,000 in installments to the bank accounts provided by the suspects.

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Police said initially to gain the complainant’s trust, the crooks showed him profits and shared the profits. Eventually, they stopped paying him and stopped responding.

Based on a complaint, the cybercrime police booked a case and sent notices to the bank officials. They followed it up with them and ensured the fraudulent amount was frozen. Further, they guided the complainant to file a petition in court for the refund of the amount held in the fraudulent accounts into the complainant’s bank account.

Cybercrime officials said there was a possibility to get refund of at least part of the lost and ‘Put on Hold’ amount, if it is reported immediately. Victims of cyberfraud can call and lodge complaints on 1930 or report on www. cybercrime.gov.in.