Hyderabad cybercrime police refunds Rs.1.05 crore to scam victims
Hyderabad: The Hyderabad cybercrime police have successfully refunded ₹1,05,00,000 (Rupees one crore five lakh) to victims of cyber fraud in case number Cr. No.1665/2024. The victims were deceived by cybercriminals who posed as investment opportunities promising substantial profits.
The investigation began following a complaint from a 52-year-old male victim, a private employee from Hyderabad. He reported that he was lured into transferring approximately ₹1,22,26,205 to bank accounts provided by the fraudsters, who falsely promised profits from trading in an institutional account on the website “Lazardoosvip.Top.”
In response to the complaint, the cybercrime police registered a case under sections 66(C) and 66(D) of the IT Act, as well as sections 319(2), 318(4), 338, 336(3), and 340(2) of the IPC. Inspector K. Madhusudhan Rao and his team, under the supervision of ACPs Shiva Maruthi and Chand Basha and DCP D. Kavitha, worked diligently on the case.
The police issued notices to bank officials to freeze the fraudulent accounts and guided the victim in filing a petition in court to reclaim the withheld funds. Following these efforts, court orders were obtained, allowing the return of ₹1,05,00,000 to the victim’s account.
C.V. Anand, Commissioner of Police for Hyderabad City, issued a public advisory urging citizens to remain vigilant against fake investment advertisements on social media platforms such as Telegram, WhatsApp, X, Instagram, and Facebook. He warned, “Beware! These scams promise high returns with little risk. Never believe claims of huge profits or fake profit screenshots. Always use SEBI-approved apps for investment and consult a SEBI-registered financial advisor before investing.”
He added that scammers often credit a small amount to victims’ accounts to gain their trust, allowing them to make initial withdrawals. There is a possibility of recovering at least part of the lost funds if reported immediately. Victims of such cyber frauds can report incidents by dialing 1930 or visiting http://cybercrime.gov.in.
