THIRUVANANTHAPURAM: The state cyber police wing has successfully retrieved approximately Rs 39 crore from the Rs 201 crore swindled by cyber fraudsters in Kerala during 2023.

Police said that its Cyber Wing was able to recover 20% of this amount and also blocked 5,107 bank accounts, 3,289 mobile numbers, 239 social media accounts and 945 websites that were used to commit the fraud.

Of the retrieved amount, Rs 24 crore has already been disbursed to the rightful owners. However, Rs 15 crore remains blocked in bank accounts, awaiting court orders for release as per the Banking Regulation Act, according to police sources. The recovered amount constitutes about 20% of the total sum lost to cyber fraud last year.

"The remaining amount, belonging to around 400 victims, is currently held in blocked accounts. The department has launched a special drive to expedite the release of these funds," sources added.

A recent meeting of district police chiefs, convened by the cyber wing, resolved to engage with the courts to accelerate the release process. Banks require court orders to release the blocked funds, often due to disputes that need legal resolution.

"We have decided to approach the courts and request expedited proceedings to ensure that victims receive their money without further delay," sources noted.

In 2023, cyber criminals conned 23,753 individuals, primarily through fake trading websites. A significant portion, Rs 74 crore, was lost by 3,394 victims through such scams. The cyber wing has identified and blocked 5,107 bank accounts, 3,289 mobile phone numbers, 239 social media accounts, and 945 websites linked to these frauds.

Scammers typically lure victims via social media with promises of high returns on investment. Interested individuals are added to Telegram groups and initially paid returns to build trust. Subsequently, they are persuaded to invest more, only to be informed of profits they cannot access. Victims are then directed to pay large amounts as tax and service charges, which are also siphoned off by the fraudsters.

Police emphasized the importance of reporting financial crimes within two hours to increase the chances of freezing fraudulent accounts. The designated number for such reports is '1930'. Delays in reporting, often several days later, result in significant financial losses.

News Source: Deccan Herald

Date: 16 January 2024