Visakhapatnam: Visakhapatnam city police have registered two cases under the Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act-2019), arresting the accused and presenting them in court on Friday. City police commissioner Sankabrata Bagchi, during a press conference on Saturday, explained the arrests of around 40 individuals within Pendurthi Police Station limits and approximately 100 under Gajuwaka Police Station limits. He highlighted that the BUDS Act-2019, introduced by the Central government, targets financial crimes like chain schemes and multi-level marketing, with offenders facing up to 10 years of imprisonment and fines of at least Rs 5 lakh. The Act ensures victim compensation through the seizure and auction of criminals’ property. Commissioner Bagchi urged the public to report fraudulent schemes and informed that FIR copies can now be accessed online via the Andhra Pradesh police website. Additionally, the commissioner announced that FIR copies registered by the Visakhapatnam city police can be accessed online by anyone. Victims can download a copy of their FIR after filing a complaint by visiting the Andhra Pradesh police website and using the provided link to register. Once the citizen registration form is filled and submitted, the relevant FIR can be viewed and downloaded as needed.
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