New Delhi: Nearly one lakh citizens have benefitted from Money Restoration and Grievance Redressal mechanism for recovery of stolen funds of cyber fraud victims, Union Home Minister Amit Shah said on Wednesday, June 17.

In a review meeting, Shah directed for regular review of newly launched portals, the Money Restoration Module (MRM) and the Grievance Redressal Module (GRM), developed under Comprehensive Fraud Reporting and Management System (CFRMS) .

Effective implementation of these modules should also be regularly monitored at the state level to ensure timely resolution of complaints and prompt restoration of funds to victims, he said.

According to a government statement, the home minister also said that swift action should be taken in cases involving unnecessarily frozen bank accounts and accountability should be fixed in such matters.

“So far, around one lakh citizens have benefitted from the Money Restoration and Grievance Redressal mechanism,” he said.

Officials informed Shah that under the SOP, approximately 94 lakh bank accounts from which funds can potentially be restored have so far been uploaded under the Money Restoration and Grievance Redressal framework, the statement said.

Shah underlined the need for more effective measures to address the issue of mule bank accounts used by cyber criminals in financial frauds.

“Through coordinated efforts of the Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs, state governments, law enforcement agencies, banks and financial institutions, we will further strengthen our cyber security framework while ensuring prompt and effective assistance to victims of cyber crimes,” he said.