Cybercrime Surge in India: Over Rs 10,300 Crore Lost Since 2021

Cybercrime is a rapidly growing problem in India, with over 15.56 lakh cases reported on the National Cybercrime Reporting Portal (NCRP) in 2023 alone. This represents a 60.9% increase from the previous year, and translates into 129 cybercrime cases reported per lakh population.

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Financial Losses Due to Cybercrime

The financial losses incurred by India due to cybercrime are staggering. Over Rs 10,319 crore has been reportedly lost in the country from April 1, 2021 to December 31, 2023. Of this amount, agencies managed to successfully block around Rs 1,127 crore, but only 9-10% of this amount has been restored to the accounts of the victims.

Modus Operandi of Cybercriminals

Cybercriminals are using a variety of methods to trick their victims and siphon off their money. Some of the most common tactics include:

• Sextortion: Cybercriminals threaten to release compromising photos or videos of their victims unless they pay a ransom.
• Online booking scams: Cybercriminals create fake websites or apps that offer online booking services, but then steal the personal and financial information of users.
• OLX related crimes: Cybercriminals use the popular online marketplace OLX to sell fake or stolen goods, or to trick victims into paying for goods that never arrive.
• KYC expiry scams: Cybercriminals send fake messages or emails to users, claiming that their KYC details have expired and need to be updated. They then trick users into sharing their personal and financial information.
• Android banking malware: Cybercriminals use malicious software to infect Android devices and steal banking information.
• Investment scams: Cybercriminals create fake investment apps and websites that promise high returns, but then steal the money of investors.
• Part-time job scams: Cybercriminals advertise fake part-time jobs that require users to pay a registration fee or provide their personal information.
• Ponzi schemes: Cybercriminals create fraudulent investment schemes that promise high returns, but then use the money of new investors to pay off old investors.
• Illegal lending applications: Cybercriminals create fake lending apps that offer easy loans, but then charge exorbitant interest rates and fees.
• Customer care centre scams: Cybercriminals impersonate customer care representatives of banks or other companies and trick users into sharing their personal and financial information.
• Android malware fraud: Cybercriminals trick users into downloading malicious apps that can steal their personal information or take control of their devices.
• Impersonation: Cybercriminals take over social media accounts or create fake accounts to impersonate individuals or organizations and trick users into sharing their personal information.

Recent Successes Against Cybercriminals

Despite the challenges, Indian law enforcement agencies have had some recent successes in combating cybercrime. These include:

• Thwarting a major cyber attack targeting the G-20 website.
• Bringing back citizens from Myanmar who were taken there under the lure of employment opportunities and held back against their will to commit cyber frauds across the globe.
• Developing a new software, Pratibimb, that enables state police forces to locate cybercriminals operating in their area.
• Using Pratibimb and quick reaction to significantly reduce cybercriminal activity in the Deoghar and Jamtara areas of Jharkhand.

Cybercrime is a serious threat to individuals and businesses in India. The government and law enforcement agencies are taking steps to combat this problem, but it is also important for individuals to be aware of the risks and to take steps to protect themselves from becoming victims.