Bhubaneswar lost Rs 19.75cr to cyber frauds in two years, only Rs 2.71cr recovered

cyber fraud

Last Updated September 05, 2023

cyber fraud

Bhubaneswar, Sept 5: Cyber criminals have swindled a whopping Rs 19.75 crore from Bhubaneswar during the last two years.

The cyber fraudsters swindled Rs 6.79 crore in 2021 and Rs 12.96 in 2022. However, only 10 percent of victims got back their money. The police managed to recover Rs 1.48 crore in 2021 and Rs 1.23 crore in 2022.

Economist and MD of Wallet 4 Wealth, Trinath Lenka said the cyber fraudsters use benami accounts and shell companies to transfer the money of the victims diverting the investigation process.

It is easy to recover the money if the victim files the complaint within 24 hours of fraud, which is called the golden hour. It takes time for the transfer of the money to the account used by cybercriminals. The transaction can be withheld by informing the bank authorities with the necessary documents to return back the money or to freeze the receiver’s account, said Anjana Tudu, SP (headquarters) Commissionerate Police.

It is easy to trace the first account holder before the withdrawal or transfer of the money to different accounts. The fraudsters use the money to purchase costly articles from e-commerce sites or transfer to several Benami accounts. It is difficult to recover the money from different accounts and e-commerce sites after the distribution of the money, added Tudu.

You Might Also Like

More From Related News
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud
cyber fraud

Latest News

Bhubaneswar Durga Puja 2023: Kedarnath Temple-...

2023 Nobel for Medicine awarded for mRNA vax a...

Bhubaneswar: Modular OT of Capital Hospital to...

Samsung Galaxy S23 FE to arrive around Rs 50K...

Bihar caste-based survey: EBCs highest in numb...

OCA to host women T20 invitational practice ma...

Daylight exposure can improve blood sugar cont...

Copyright © 2022 - Summa Real Media Private Limited. All Rights Reserved.