If you have lost money to online fraud, there is some relief on the way.
The government has introduced a new rule to ensure faster refunds in small cyber fraud cases.
This move is aimed at helping victims recover their money quickly and reducing unnecessary delays.
Faster Refunds for Small Cyber Fraud Cases
The Ministry of Home Affairs has approved a new Standard Operating Procedure for cyber fraud cases involving amounts below ₹50,000.
Under this rule, refunds will be processed more quickly once the complaint is verified.
The SOP is part of the Cyber Financial Crime Reporting and Management System under the National Cybercrime Reporting Portal.
Its main goal is to make the refund process smoother and more transparent for victims.
One Common Rule for All Financial Platforms
The new SOP brings all financial institutions under one framework.
Banks, payment apps, NBFCs, e-commerce platforms, stock trading apps, and mutual fund companies will now follow the same procedure.
Whenever a suspicious transaction is reported on the cybercrime portal, these institutions must act according to the approved guidelines.
This ensures uniform action and quicker coordination.
Frozen Accounts Must Be Released in 90 Days
The rule also protects people whose bank accounts were frozen due to suspicion but later found innocent.
If the police investigation clears the account holder, the bank must release the account within 90 days.
This will apply only if there is no court order or legal instruction linked to the case.
The step is meant to reduce hardship caused by long account freezes.
Cyber Fraud Losses Continue to Rise
Cyber fraud cases are increasing rapidly across India. In one recent incident, an elderly NRI couple in Delhi lost nearly ₹15 crore to online scammers.
According to data from the Indian Cyber Crime Coordination Center, Indians have lost more than ₹52,976 crore to cyber fraud over the last six years.
The new SOP is expected to help victims, especially in smaller cases, get quicker justice and financial relief.
