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Why Reporting A Financial Scam In the Golden Hour is Important!!

Priyanka Sharma

By Priyanka Sharma
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Priyanka Sharma

Priyanka Sharma

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  • Truecaller Team
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Hi TrueTalks Community,

 

We're back with news from Hyderabad, where the Cybercrime Police are helping individuals affected by online financial scams recover their money during the "Golden Hour" right after the crime is reported.

 

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What Does Golden Hour Mean?


Every minute counts when it comes to reporting financial fraud. The Cyber Crime Police in Hyderabad are stepping up to help citizens scammed out of large sums of money.


They have introduced the "Golden Hour" initiative, which allows people to report cybercrimes within 1 to 3 hours in hopes of recovering their stolen money. This effort is currently led by the Cybercrime Police in Hyderabad, with Telangana being the first state to offer refunds. Other states are starting to follow suit.

 

What is the Process and How Can Citizens Recover Stolen Funds?


The Hyderabad Police say, "The quicker someone contacts us, the better the chances of stopping the money from reaching fraudsters and recovering the amount. Reporting to 1930 as soon as possible increases the chances of saving the money."


If you’ve been scammed online of financial fraud, follow these steps to report it quickly:

  • Call 1930: This is the toll-free helpline of the National Cybercrime Reporting Portal (NCRP).
  • Visit the NCRP Website: Go to https://cybercrime.gov.in/ to report the incident online.

Here's how the process works:

  • Register a Complaint: When you report the fraud via 1930 or the website, an SMS about your complaint is sent to the relevant financial institution.
  • Blocking Funds: The institution's nodal officer checks the details. If the stolen money is still available, the bank puts a hold on it, preventing withdrawal.
  • Escalation: If the funds have been transferred to another bank, the complaint is escalated to that bank to hold the money.
  • Repeat: This process continues until all funds are blocked and prevented from reaching the fraudsters.

The Citizen Financial Cyber Frauds Reporting and Management System (CFCFRMS) platform manages these reports and works with:

  • Law Enforcement Agencies
  • Reserve Bank of India (RBI)
  • National Payments Corporation of India (NPCI)
  • Banks and Financial Intermediaries

Truecaller helps you check a number's legitimacy on its app or website, helping you decide whether to share personal information and reducing the risk of scams.

 

Download Truecaller: https://tc.onelink.me/571208033/1fqyddvr 

 

Let us know if this information is helpful and what else you'd like us to cover.

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