Srinagar, Jan 28 (PTI) Cyber Police in Kashmir has recovered Rs 30 lakh which were in the process of being converted into foreign currency by online scamsters.

"Cyber Police Station Kashmir received a complaint from a senior citizen of Srinagar city, stating therein that an amount of ?11 lakhs has been fraudulently withdrawn from his bank account regarding which he has no knowledge. Accordingly, Cyber Police Kashmir started investigation promptly into the matter," a police spokesman said here on Friday.

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He said preliminary investigation revealed that the said ?11 lakhs were transferred into the bank account of complainant's nephew.

The complainant's nephew disclosed that he came in touch with scammers over social media sites and they motivated him to invest in online trading to receive hefty returns and direct credit to his bank account.

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He also disclosed that apart from the said amount of ?11 lakhs, he has also withdrawn an amount of ?19 lakhs from his father's bank account and invested the same in online trading/investment, resulting in huge financial loss of ?30 lakhs.

"The Cyber team coordinated with the bank authorities to ascertain the details of these transactions, where from it was revealed that the said hefty amount has been transferred through Unified Payment Interface (UPI) and Internet Banking into different online payment gateways. The matter was further taken up with the gateway authorities to ascertain the transaction details," the spokesman said.

The investigation team was successful in tracing all the transactions in different online payment gateways which were being used to exchange into foreign currency and whole amount of ?30 lakhs was blocked and further refunded to complainants' bank accounts.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)