Amaravati, May 14: Andhra Pradesh Chief Minister N. Chandrababu Naidu has directed officials to formulate an action plan to control cybercrime.
He emphasized the need for police and banking authorities to focus on “Golden Hour Fund Recovery” techniques to ensure timely recovery of lost funds for victims of cyber crimes.
On Wednesday, the Chief Minister held a review meeting at the Secretariat to discuss the rapid response mechanism and regulatory framework for addressing cyber crimes in the state.
The meeting addressed issues such as preventing cybercriminals from using third-party bank accounts, implementing “Golden Hour Fund Recovery,” and the Andhra Pradesh Cyber Policy.
The Chief Minister stated that banks must take effective measures to prevent cyber and financial crimes. He suggested consulting the Reserve Bank of India (RBI) on this matter and expressed concern over widespread investment fraud.
Naidu noted that many individuals are forming shell companies without proper verification, Aadhaar validation, or completing KYC processes. He instructed officials to conduct a detailed study of such cases.
He urged the police department, bankers, Andhra Pradesh Technology Services, and the finance department to collaborate in developing guidelines to combat online financial fraud. Additionally, he called for a system to identify suspicious “mule accounts.”
The Chief Minister stressed the importance of protecting account holders’ interests in cases of cyber and financial crimes. He pointed out that millions of transactions occur via UPI in seconds, highlighting the need for special attention to “Golden Hour Fund Recovery.”
Naidu also emphasized the necessity for further technological innovation in this field. He instructed Andhra Pradesh Technology Services to play a crucial role in preventing cyber crimes and to study technologies from both domestic and international sources.
He advised banks to closely monitor large financial transactions occurring over weekends. Furthermore, he suggested discussing potential regulatory changes with the RBI and utilizing tools like the “Mule Account Hunter AI” developed by the RBI.
Naidu called for a comprehensive action plan by studying the best practices of other states like Haryana and Maharashtra.
DGP Harish Kumar Gupta reported that the 1930 helpline has received 929,000 complaints related to cyber and financial crimes in Andhra Pradesh, with victims suffering a total loss of ₹652 crores. He noted that over ₹116 crores have been prevented from reaching cyber fraudsters with the help of the CID Cyber Crime Wing and banks.
Officials indicated that scams are occurring through methods such as phishing, vishing, credit-debit card fraud, online loan scams, and digital arrests.
IT Secretary Katamneni stated that data security is being ensured in the state through the Cyber Security Operations Center.
The meeting was attended by the Finance Minister, Home Minister, DGP Harish Kumar Gupta, Home Secretary Kumar Vishwajit, forensic advisor KPC Gandhi, and senior officials from various banks, including the RBI.
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