Cyber Fraud Victims Can Now Recover Money Before Investigation Ends.

Cyber Fraud Victims Can Now Recover Money Before Investigation Ends.

New Guidelines Issued by the Central Government
Victims of cyber fraud in India now have a major relief. As per the new guidelines issued by the Ministry of Home Affairs, money frozen in fraudsters’ bank accounts can be returned to victims even before the completion of the investigation, subject to certain conditions.
This step aims to reduce the hardship faced by victims who were earlier forced to wait until the end of long investigations and court proceedings to recover their money....

Background: Why the New Guidelines Were Needed
In April 2021, the Government of India launched a unified cybercrime reporting mechanism known as the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS).

What Is the Major Change?

Earlier, frozen money remained locked until the investigation or trial concluded.
Now, if the investigating officer is convinced that continued freezing of the amount is not necessary, the money can be released to the victim during the investigation stage itself.
Procedure to Get the Frozen Amount Released
Amount below ₹50,000
Can be released without imposing strict conditions.
1. Application Process
Victims must apply through the online cybercrime reporting portal using the “Interim Custody” option.
The application will reach the concerned police station.
2. Notice to the Frozen Account Holder
After initial verification, the investigating officer will issue a notice to the account holder whose account was frozen within 7 days.
3. Appearance Before Police
The account holder must appear before the police within 15 days, either:
In person, or
4. Through video conferencing
The police will verify the identity of the account holder.
A bank representative will also be part of the proceedings.
5. Approval and Release of Funds
Once it is confirmed that the money belongs to the victim, approval will be obtained from the SP or DCP.
The bank will be directed to release the amount within 15 days.
6. Bond Requirement
The victim must execute a bond assuring that the amount will be produced before the court if required in the future.

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