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Cheque bounce - investment expert
2 weeks ago
A cheque was given to a person who claimed an investment expert & promised me return of investment amount with profit in 5 days .Fund transfered into his bank account via IMPS. On date of he should return, he told process of investment not completed so wait ..after so many conversations he paid 50% to me online .but now rest payment is pending. I have deposited his cheque ( amount which I have given initially).but it returned with stop payment note .now how can I take back rest of money. I don't know where he invested .he told he is expert in crypto. I m not aware about that crypto investment. But my friend recommended him .
A.Dear Client,
Currently, cryptocurrency trading isn't regulated by specific legislation in India, but it's also not illegal. Victims of cryptocurrency scams can report them through the National Cyber Crime Reporting Portal. If suspicious activity is noticed, contacting the exchange's customer service is recommended. Once reported to NCCRP, investigations begin, with the time frame varying depending on the case's complexity and resources. Cryptocurrencies are classified as virtual digital assets and are taxable at a rate of 30% plus 4% cess according to the Income Tax Act, 1961.
Currently, cryptocurrency trading isn't regulated by specific legislation in India, but it's also not illegal. Victims of cryptocurrency scams can report them through the National Cyber Crime Reporting Portal. If suspicious activity is noticed, contacting the exchange's customer service is recommended. Once reported to NCCRP, investigations begin, with the time frame varying depending on the case's complexity and resources. Cryptocurrencies are classified as virtual digital assets and are taxable at a rate of 30% plus 4% cess according to the Income Tax Act, 1961.
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A.Dear Client,
Incidentally, cryptocurrency/asset trading is neither illegal nor regulated by any specific legislation yet in India. The National Cyber Crime Reporting Portal(NCCRP) is an initiative of the Government of India to facilitate victims/complainants to report cybercrime including cryptocurrency scams or complaints online. However, when one is a victim of scams and frauds while trading in cryptocurrency, is advised that when any suspicious activity is detected in a trader’s exchange wallet, they should contact the customer service of that exchange, and voice their concern with the representatives as a precautionary measure to seek justice in India. So, once a cyber crime involving cryptocurrency trading is reported online to NCCRP, a routine course of investigation is started immediately and you have to wait for the completion of the investigation of the scam by the investigating agency. The length of time it takes to investigate a cybercrime can vary greatly depending on the complexity of the case, the resources available to the investigating agency, and the cooperation of the victim. In India, cryptocurrencies are classified as virtual digital assets and are subject to taxation. Gains made from trading cryptocurrencies are taxed at a rate of 30% plus 4% cess, according to Section 115BBH of the Income Tax Act, 1961. You may consult with a cyber crime expert for further guidance and suitable steps.
Incidentally, cryptocurrency/asset trading is neither illegal nor regulated by any specific legislation yet in India. The National Cyber Crime Reporting Portal(NCCRP) is an initiative of the Government of India to facilitate victims/complainants to report cybercrime including cryptocurrency scams or complaints online. However, when one is a victim of scams and frauds while trading in cryptocurrency, is advised that when any suspicious activity is detected in a trader’s exchange wallet, they should contact the customer service of that exchange, and voice their concern with the representatives as a precautionary measure to seek justice in India. So, once a cyber crime involving cryptocurrency trading is reported online to NCCRP, a routine course of investigation is started immediately and you have to wait for the completion of the investigation of the scam by the investigating agency. The length of time it takes to investigate a cybercrime can vary greatly depending on the complexity of the case, the resources available to the investigating agency, and the cooperation of the victim. In India, cryptocurrencies are classified as virtual digital assets and are subject to taxation. Gains made from trading cryptocurrencies are taxed at a rate of 30% plus 4% cess, according to Section 115BBH of the Income Tax Act, 1961. You may consult with a cyber crime expert for further guidance and suitable steps.
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