In a recent case in Mumbai, a vigilant housewife managed to recover ₹3.7 crore out of ₹4.65 crore that she had lost to a cyber fraud promising lucrative returns in the share market. The incident unfolded when the woman, residing in south Mumbai, fell victim to fraudsters operating through a social media platform.
Social Media Temptation and Virtual Investments
The woman, who had been actively trading in the share market at a smaller scale for the past two years, stumbled upon an enticing advertisement on social media promoting share trading. Intrigued, she joined a WhatsApp group where members claimed to have made substantial profits through share investments. The cyber criminals persuaded her to invest ₹4.56 crore in a company’s shares, promising double profits.
Virtual Wallet Deception
Upon investment, the woman was provided with a link to a virtual wallet where she could track her investments and profits. However, when she attempted to withdraw the funds, she encountered obstacles and suspicions arose. Realizing something was amiss, she promptly approached the police, filing a complaint with the cyber helpline (1930).
Swift Police Action Saves ₹3.7 Crore
The south region cyber crime police station registered an FIR against unidentified individuals for cheating and criminal conspiracy. The police swiftly acted on the complaint, collecting details of the woman’s transactions and freezing the accounts involved. Within 48 hours, the cybercrime department successfully saved ₹3.7 crore, demonstrating the effectiveness of timely reporting.
The “Golden Period” and Mumbai Police’s Cyber Helpline
Dr. DS Swamy, Deputy Commissioner of Police, Cyber, emphasized the importance of reporting cyber crimes within the “golden period” – the critical timeframe before fraudsters can transfer the ill-gotten funds. In this case, the woman’s prompt reporting enabled the police to freeze the entire account and pursue legal actions against the perpetrators.
Mumbai Police’s Ongoing Efforts Against Cyber Fraud
This success comes as part of Mumbai Police’s broader initiative to combat cyber fraud. In 2023, the police froze ₹26.94 crore in various cyber fraud accounts when victims reported within the golden period. The cybercrime helpline (1930) remains a crucial resource for individuals who fall victim to such scams, operating 24/7 to assist in blocking funds associated with cyber fraud.
Conclusion: A Victory Against Cyber Con
The recent incident underscores the resilience and efficacy of Mumbai’s cybercrime prevention measures. As cyber fraud continues to evolve, timely reporting and swift police intervention remain key elements in protecting individuals from financial losses. The recovered ₹3.7 crore serves as a victory against cyber con artists, reinforcing the message that Mumbai Police stands committed to safeguarding citizens from digital threats.