First, victims of cybercrime get their money back

In a first, the state’s 546 victims of cyberfraud were ordered to get a refund of Rs 2.19 crore by the national Lok Adalat on Saturday. Telangana State Cyber Security Bureau (TSCSB) and Telangana State Legal Services Authority worked together to fight for the return.

Upon receiving a financial cybercrime complaint, the TSCSB promptly starts working to freeze or block the victim’s funds in the bank accounts of the perpetrator.

Financial cyber fraud allegations are often sent to the TSCSB contact center at helpline 1930. Subsequently, there are law enforcement officials that oversee the National Crime Reporting Portal and trace the financial path from the deceiver to the victim. The police then move quickly to arrange for the victim’s funds to be placed on hold with the relevant institutions.

But only if the victim of financial cyber fraud reports the incident within the first two hours of the monetary loss will there be a possibility to freeze the lost money and retrieve it.

The fraudster may more easily remove the money, convert it into cryptocurrency, or find other means to avoid detection by the authorities the longer the victim waits to report the incident.