Hyderabad Police recover Rs 9.5 lakh lost in online business fraud

Hyderabad (Telangana) [India], March 27 (ANI): The Hyderabad Police's Cyber Crime Unit successfully refunded Rs 9,50,531 to a businessman on Thursday, who fell victim to an online business fraud, according to a press statement by the Deputy Commissioner of Police, Cyber Crimes.
According to the police, a 32-year-old businessman from Hyderabad was duped by cyber fraudsters who convinced him to transfer Rs 9,50,531 to their bank accounts under the pretext of a business deal. Acting swiftly, the Cyber Crime Unit registered a case under Cr. No. 3083/2024, U/Sec 66(C), 66(D) of the IT Act, and U/Sec 111(2)(b), 318(4), 319(2) of the BNS, and launched an investigation.
Inspector K Prasada Rao, along with SI Abhishek, HC Satish, and PCs Srinivas Reddy and Kranthi Kumar Reddy, traced and apprehended the accused in Sector-7, Dwarka, New Delhi. The entire defrauded amount was successfully recovered and returned to the victim through a demand draft.
There is some public advisory, as per the statement, cyber fraudsters are targeting business owners by falsely promising lucrative business orders for their products. Victims are lured into paying registration fees, process charges, issuance of ISO certificates, developing business websites under the pretence of high market demand. Once payments are made, fraudsters cut off all communication, leaving victims defrauded.
"Verify authenticity before making any payment, and thoroughly research the company or individuals offering business deals," the statement cautioned, adding to check official sources and confirm business opportunities through trusted government and industry platforms. "Beware of upfront payments and legitimate business deals rarely require large prepayments for registration or order processing," it said.
"Sanitise emails and calls and be cautious of unsolicited calls, emails, and messages claiming unrealistic business offers. Use payment methods to avoid making payments to unknown individuals or accounts; prefer escrow services for transactions," it went on.
The efforts of the Cyber Crime Unit, Hyderabad City, are appreciated. 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. Victims of such Cyber frauds can report immediately on the helpline number 1930 or cybercrime.gov.in. (ANI)