Goa police have directed banks to temporarily pause and verify large fund transfers initiated by senior citizens to unknown or random accounts, after cyber fraudsters cheated residents of around Rs 100 crore, according to police figures reported by the Times of India.
The direction was issued at a coordination meeting between Goa cybercrime police and representatives of various banking institutions. The meeting was chaired by Inspector General of Police Keshav Ram Chaurasia and focused on improving cooperation between banks and law enforcement agencies, speeding up cybercrime investigations and strengthening preventive measures against financial fraud.
Police told banks to question a senior citizen visiting a branch to transfer a substantial amount to an unknown account. The transaction should be paused until the bank verifies with the customer that the transfer is genuine and understands its purpose, the report said. The measure is intended to prevent victims from being pressured or deceived by cyber fraudsters into transferring their savings.
Banks were also asked to monitor large, sudden deposits into individual accounts and immediately report them to the police. The directions form part of a wider effort to identify suspicious financial flows and improve the speed at which information reaches investigators.
Goa police said delayed responses from banks in cybercrime cases slow investigations and hinder the timely arrest of suspects. A senior police officer said financial institutions had been directed not to share customer data with cyber fraudsters or unauthorised agencies. Representatives of the banking institutions denied sharing information with third parties, according to the report.
The police also cautioned residents about online investment schemes. They said anyone downloading an investment application should verify that the money is being sent to the company’s legitimate account. If an application directs funds to multiple accounts, the person should treat it as a possible fraud and avoid transferring more money, police said.
Police sources said cyber fraudsters had cheated Goans of about Rs 100 crore so far, while noting that the actual amount could be higher because not every incident may be reported. The reported figure is close to the Rs 101 crore lost by Goans to cyber fraudsters last year.
Investigations have found that many cyber fraudsters operate from abroad, making arrests difficult, police sources said. The police-bank coordination mechanism is therefore intended not only to prevent suspicious transfers but also to support faster information sharing and investigation after a fraud is reported.
The latest directions require banks and police to act at key points in the transaction process, including when a senior citizen initiates an unusually large transfer, when an account receives a sudden substantial deposit and when investigators seek information during a cybercrime case.
