On June 17th, the Union Home Ministry’s Indian Cyber Crime Coordination Centre (I4C) launched the Grievance Redressal Mechanism (GRM) and Money Restoration Module (MRM) portals. This is a revolutionary step in India’s fight against cybercrime. Both portals offer crucial financial recovery mechanisms to cybercrime victims in the country.

Unfreezing Accounts of Innocent Businesses

What is the purpose of the Grievance Redressal Mechanism (GRM)? It is designed to help businesses or individuals whose bank accounts have been frozen or a lien for a specific amount is placed by the police due to suspicious transactions. However, the portal can only be accessed by banks, financial institutions, police, and home ministry officials. The affected customer must approach their bank as the first step. Officials verify the disputed transaction and the customer’s KYC records. Then, the bank registers the details on the GRM platform. A grievance ID is generated, and the case is assigned to the investigating police officer. The cop is required to verify the grievance within 15 days.

You might wonder, what if the investigating officer does not respond within the timeframe? Well, under the SOP, an account hold cannot exceed a maximum fallback limit of 90 days without a specific reason or court order. Further, if the consumer is unsatisfied with the decision, they can ask the bank to file a formal review with the designated District or State Grievance Police Officer. The primary benefit is that there is no need to visit a police station to get the lien revoked. Innocent citizens and businesses can get their bank accounts unfrozen within 15 days if the amount under dispute is Rs. 50,000 or lesser.

What about people who have lost money in cyber frauds? Well, this is where the MRM portal enters the picture.

Recovering Stolen Funds

The Money Restoration Module, or MRM portal, helps cybercrime victims restore the stolen funds. Most importantly, it brings banks, payment gateways, NBFCs, victims, and police on the same platform for quick coordination as well as recovery of funds. Now, there is no need for victims to approach the court if the amount they have lost is Rs. 50,000 or less.

The Union Home Ministry has issued key guidelines for victims to use the money restoration platform. First and foremost, the cyber fraud has to be reported quickly. There are two options for citizens. They can either call the National Cyber Crime Helpline number, 1930, or visit the National Cyber Crime Reporting Portal, cybercrime.gov.in, to register their report and obtain a 14-digit complaint acknowledgement number. Then, visit the money restoration platform, https://mrm-ncrp.mha.gov.in/, and raise a refund request by following the steps mentioned therein. The complainant receives the case updates via email and text messages. You can also visit the MRM portal to track the progress of your money restoration claim. Remember, reporting the fraud and raising a restoration request must be done quickly because money cannot be restored once fraudsters move it to another account or withdraw it.

Who can use this portal to request restoration of stolen funds? Victims of digital arrest scams, QR code scams, digital sextortion, romance scams, loan app fraud, KYC fraud, online job fraud, investment scams, online banking fraud, and UPI scams can use the MRM portal. If the fraud is reported on time and the fraudster’s bank account gets frozen, you can expect your funds back in your account within a week. Complicated cases may still require months. And if the amount exceeds fifty thousand rupees, you will have to submit a court order on the portal.

But which are the documents required while raising a funds restoration request? You should keep Aadhaar or PAN card, last three months’ bank statement, the transaction ID (or IDs) for fraudulent transactions, screenshots of any communication with the fraudster, mobile number linked to the bank account, copy of cybercrime portal complaint number, or the copy of FIR, if filed. It is vital to note that there is no fee involved in registering your claim on the MRM portal. Also, the government has not appointed any agents to help victims. While reporting your case, ensure the website address that you have opened ends with gov.in

Do these portals need further improvement? Yes, of course. There is no doubt that legal experts have already highlighted shortcomings in the two platforms and guidelines. However, these two portals from the union home ministry offer a much-needed relief. Such systems introduce transparency and make cops liable to complete the investigation in a timely manner.

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