Reporting within 1 to 3 hours increases chances of recovering lost money
Published Date – 29 July 2024, 11:35 PM
Cybercrime Police in Hyderabad are pulling out all stops to spread public awareness about the importance of alerting them immediately
Hyderabad: Victims of online financial fraud in Hyderabad have a powerful weapon at their disposal that can go a long way in recovering their lost funds. Yes, if targeted victims report cyber crimes within the Golden Hour, at least between 1 hour and 3 hours of the crime, then they have a second chance of saving their hard-earned money.
Due to the immense potential of the golden hour rule in increasing the chances of recovering lost funds, the Cybercrime Police in Hyderabad are pulling out all stops to spread awareness about the importance of alerting them through the 1930 helpline, in the nick of time.
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“The sooner the victim approaches us, the better are the chances to intervene, stop the flow of money to fraudsters and recover the amount. Every minute matters in financial frauds. The sooner one reports on 1930 the higher the chances of saving the money,” explains DCP (cyber crimes) D Kavitha.
The golden hour idea in cybercrime highlights the importance of rapid and effective response on the part of the victims to decrease the impact of fraud.
Online financial fraud victims should immediately call the 1930 helpline—a toll-free number of the National Cybercrime Reporting Portal (NCRP)—or visit the NCR portal—https://cybercrime.gov.in/—to report the incident. It will help the police effectively trace and block the proceeds of the crime, the senior official of the Cybercrime Department says.
Once the victim registers the complaint with NCRP (via 1930 or the website), an SMS regarding the complaint is sent to the nodal officer of the concerned financial institution who then checks the details on their dashboard available on the reporting portal. If the proceeds of the crime are still available, then the bank puts a hold on the funds, thus blocking the fraudsters from withdrawing the money.
If the proceeds have been transferred to another bank from the particular account then a ticket gets escalated to the next bank where the fraudsters had transferred the money, which then puts a hold on the money. This process is repeated until the proceeds of the crime are blocked and saved from reaching the fraudster. The banks involved in this process then inform the concerned State police about the action taken and the amount blocked.
The NCRP uses the ”Citizen Financial Cyber Frauds Reporting and Management System” (CFCFRMS) platform to report financial cyber frauds and monetary losses suffered due to the use of digital banking, credit or debit cards, payment intermediaries and unified payments interface (UPI).
The CFCFRMS platform works in tandem with Law Enforcement Agencies, the Reserve Bank of India (RBI), the National Payments Corporation of India (NPCI), banks, and financial intermediaries to ensure that quick, and system-based action is initiated to prevent the flow of money siphoned off from the victims.
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