Yes, you may be able to recover money transferred to a fraudster’s account, but recovery is not guaranteed. The chances are generally better when you report the fraud immediately, before the money is withdrawn or moved through other accounts.
If you are in India, take these steps:
Call 1930 immediately — the National Cyber Crime Helpline operates 24×7 for financial cyber fraud.
Report the fraud on the National Cyber Crime Reporting Portal: cybercrime.gov.in
Inform your bank/payment provider immediately and request that the fraudulent transaction be reported and the recipient account/payment be placed on hold or lien, where possible. RBI advises customers to notify their bank immediately about fraudulent electronic transactions.
Keep your UTR/transaction ID, transaction date and time, amount, recipient bank/UPI ID/account number, screenshots, chats, phone numbers, emails and other evidence ready for the complaint.
The concerned police/law-enforcement agency can coordinate with banks and financial intermediaries to block or freeze the fraudulently transferred funds, subject to the investigation and availability of funds.
Important: Do not wait to collect every document before reporting. Speed is critical because the fraudster may quickly transfer the money to another account.
Also, RBI's rules on customer liability can provide protection in certain cases involving unauthorised electronic transactions, particularly where the customer reports promptly and was not negligent.
