Crime Hyderabad

Hyderabad cybercrime police recover over Rs. 1.6 crore in financial fraud cases

Police Commisionarate

HYDERABAD: In a commendable display of efficiency and collaboration with the judiciary, the Hyderabad cybercrime police have successfully helped victims of financial fraud, swiftly restoring their losses totaling Rs. 1,61,24,226.

The cases involved intricate schemes where victims were targeted by individuals posing as legitimate services. In the first case, a victim from Hyderabad was deceived by a scammer posing as a FedEx courier service, coerced into transferring Rs. 98,79,000 under the guise of verifying accounts due to a fake parcel to Taiwan. The second case involved a victim duped by a fake stockbroker promising high returns, resulting in a loss of Rs. 1,04,8000.

Upon receiving reports, Cybercrime Police swiftly initiated investigations, leading to the freezing of the accused bank accounts holding Rs. 80,76,198 and Rs. 80,48,028 respectively. With court intervention, the frozen amounts were directed to be deposited before the Court, facilitating the victims’ recovery of their funds.

The cybercrime police warned the public against falling victim to similar scams, advising vigilance in verifying package statuses directly through official channels, avoiding deposits to unknown bank accounts based on false promises, and exercising caution in stock trading schemes not registered with Securities and Exchange Board of India (SEBI).

The team, led by K. Madhusudan and Mattam Raju, under the supervision of Dy. Commissioner of Police, Cyber Crimes D. Kavitha and Asst. Commissioner Shiva Maruthi, successfully restored a victim’s financial loss. Their exemplary work has been recognized with proposed rewards for their meticulous efforts by A V Ranganath, Jt. Commissioner of Police, Crimes, and SIT of Hyderabad.