MHA Approves New SOP for Swift Return of Funds in Cyber Financial Frauds

The Ministry of Home Affairs (MHA) has approved a new Standard Operating Procedure (SOP) for the National Cybercrime Reporting Portal to combat online financial fraud. The SOP introduces a grievance redressal and money restoration module, allowing swift return of funds below Rs 50,000 without a court order. Banks must release holds on such amounts within 90 days if no restoration order exists. This initiative aims to streamline the process for financial intermediaries and provide timely relief to victims, as Indians have lost over Rs 52,976 crore to fraud in six years.