Mumbai Cyber Police Recover ₹3.7 Cr in Share Market Scam Bust; Helpline Sees ₹26.48 Cr Recovered in 2023

Mumbai: A swift response by the Mumbai Cyber Police helped a city resident recoup ₹3.7 crore swindled in a lucrative share market investment scam, highlighting the effectiveness of the department's 24/7 helpline and ongoing fight against cybercrime.

The victim, who contacted the helpline on Jan. 4, reported being lured through social media with promises of substantial returns on a ₹4.57 crore investment. However, instead of seeing promised gains, the individual lost the entire sum to con artists.

Acting promptly, the Cyber Police filed a complaint on the National Cyber Crime Reporting Portal (NCCP) and contacted nodal officers at the bank involved. This swift action led to the freezing of ₹3.70 lakh from the accused's accounts. Leveraging bank details, mobile numbers, and other technical evidence, the police subsequently traced and apprehended the perpetrators.

This swift recovery follows a year of success for the Mumbai Cyber Police. In 2023, the department's dedicated helpline, reachable at 1930, facilitated the recovery of ₹26.48 crore lost to various cyber frauds. Police Deputy Commissioner Dr. D.S. Swami reiterated the importance of prompt reporting: "Mumbai citizens who face cybercrime should immediately dial 1930 to freeze lost funds."

The incident also underscores the prevalence of common online scams, including credit card and KYC update calls, email phishing, job frauds, classified ad scams, social media and matrimonial site cons, OTP-based fraud, and even sextortion. Awareness of these tactics remains crucial in the evolving cybercrime landscape.