Cybercrime Police Refund ₹39 Lakh to Cheated Investor

Hyderabad: Hyderabad Cybercrime police have refunded an amount of Rs 39 lakh to a victim who was recently cheated by cyber fraudsters in a stock trading fraud in the city.

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The 34-year-old unemployed victim was made to transfer a total of Rs 78.70 lakh to different bank accounts provided by the scammers. Hoping to make easy money, the victim deposited money in installments, but soon realized he was cheated as he could not withdraw money after a point.

Based on a complaint, the Cybercrime police booked a case and initiated an investigation. Notices were sent to the bank officials, followed up with them to freeze the fraudulent amount. The complainant too was, guided to file a petition in court for a refund of the amount held in the fraudulent accounts.

Public Advisory:

*Beware of fake investment social media groups promising high returns with little risk

*Never believe the promises of huge returns and fake profit screenshots.

*Use SEBI–approved apps for investment. Ask a SEBI-registered financial advisor before investing.

*The scammer will credit a small amount to the victim’s account to gain the victim’s confidence and allow withdrawal as well.

*There is a possibility to get a refund of at least part of the lost and Put on Hold amount, if it is reported immediately.

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