Cybercrime victims in Hyderabad hit as banks delay ₹12.94 crore refunds

HYDERABAD: Cybercrime victims face fresh hurdles as banks are delaying refunds of money lost to fraud, despite clear court orders. Victims allege that banks are using “verification” as a pretext to stall payments.

According to officials, 4,539 cases were registered this year, involving refunds worth ₹12.94 crore. However, many complain that the money has not yet reached their accounts. “Even after repeated reminders from police, nodal officers at banks are not responding,” officials said.

From freeze to refund

Cybercrime police register cases for all types of online fraud, including investment scams. Complaints filed through helpline 1930 or the National Cyber Crime Reporting Portal (www.cybercrime.gov.in) are acted upon within the “golden hour” to freeze accounts and hold the funds.

Courts and Lok Adalats then issue refund orders, directing that the money be returned to the same accounts from which transactions originated. Despite this, implementation has stalled. Banks insist they are following standard operating procedure and say refunds are processed in serial order, given the volume of pending orders.

With months of delay, victims are left visiting police stations and appealing to the Cyber Security Bureau and senior officials for relief.