The Ministry of Home Affairs has rolled out a new Standard Operating Procedure to tackle cyber financial frauds more effectively. This move aims to provide quicker relief to victims by simplifying the process for refunding stolen funds.
Key Features of the New SOP
Under the new guidelines, small-value frauds involving amounts below Rs 50,000 will see swift refunds. Banks can process these refunds without waiting for a court order. If no court or restoration order exists, banks must release the held funds within 90 days.
Grievance Redressal and Money Restoration Modules
To implement the SOP, two digital modules will be developed under the National Cybercrime Reporting Portal. A grievance redressal module and a money restoration module will streamline coordination among financial institutions, law enforcement agencies, and victims.
This three-tier escalation structure ensures time-bound resolution of complaints. It offers a comprehensive mechanism for individuals whose accounts get frozen due to cybercrime alerts.
Impact on Cyber Financial Crime Reporting
The Cyber Financial Crime Reporting and Management System, launched in 2021, has already saved over Rs 7,130 crore through more than 23 lakh complaints. The new SOP builds on this success by establishing a uniform process for various financial entities.
Banks, payment aggregators, NBFCs, e-commerce platforms, and other intermediaries must follow this process when handling cybercrime complaints. This step enhances public trust in India's digital payments ecosystem.
Rising Cybercrime Losses in India
Data from the Indian Cyber Crime Coordination Centre reveals alarming trends. Over the past six years, Indians have lost more than Rs 52,976 crore to fraud and cheating cases.
In 2025 alone, around Rs 19,812.96 crore were lost across 21.77 lakh complaints. The previous year saw losses of approximately Rs 22,849.49 crore from 19.18 lakh complaints. These figures highlight the urgent need for robust measures like the new SOP.
Senior officials describe the SOP as a crucial advancement in strengthening the national cyber financial security framework. It promises faster refunds and prompt grievance redressal for victims of online financial fraud.
