Cyber police helpline saves ₹3.7 cr as woman reports crime in golden period

A woman in Mumbai recovered ₹3.7 crore out of ₹4.65 crore lost to a cyber con promising high returns in the share market by calling the city's cybercrime helpline. The fraudsters enticed her on social media and made her create an account on an app that showed fake returns. The complainant approached the police within the "golden period" and the cybercrime department successfully froze the accounts involved in the transactions. In 2023, Mumbai Police froze ₹26.94 crore in various cyber fraud accounts when victims reported within the golden period.

MUMBAI: Calling the Mumbai Police’s cybercrime helpline number - 1930 helped a woman to recover ₹3.7 crore out of the ₹4.65 crore that she lost to a cyber con promising high return in the share market.

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The complainant, who reported the crime on Thursday, said she had fallen prey to fraudsters she encountered on social media. The fraudsters enticed her with promises of doubling her investment in the share market, and convinced her to invest a substantial amount.

Dr DS Swamy, deputy commissioner of police, cyber, explained, “They made her create an account on an app, showing ‘real-time’ updates of her returns. However, when attempting to withdraw the funds, she discovered the promised transfer to her account was not possible. Consulting with a family member, she realised she had been conned.”

Swamy mentioned that the money could have been saved as the complainant approached the police within what is called the ‘golden period’, wherein the frauds have still not had the chance to transfer the money from the account shared with the complainant. “In such cases, the entire account can be frozen so that it cannot be used in any more cons. Besides, the complainant’s money can be recovered once we prove in court that the transaction was made based on fraudulent promises,” said DCP Swamy.

In 2023, Mumbai Police froze ₹26.94 crore in various cyber fraud accounts when victims reported within the golden period, defined as the first three to four hours post the fraudulent transaction.

Police officials said that the chances of recovery are better when the victims of such crimes approach the police at the earliest, as time passes, the frauds circulate the defrauded money through bank accounts and within hours withdraw the amounts in parts from different bank branches.