Financial frauds worth Rs 2.95 lakh crore were reported in Mumbai over the past 10 years, according to data shared by the Maharashtra Home Department in the state legislative council. These frauds affected nearly 2.71 lakh investors in Mumbai, based on figures provided by the Economic Offences Wing in Mumbai.
Outside of Mumbai, the department stated that around 1.05 crore investors across Maharashtra were cheated out of Rs 22,552 crore during the same period. In 2024 alone, the Maharashtra National Cyber Crime Reporting portal received 58,157 complaints of financial frauds amounting to Rs 1,186.46 crore. Of these, 31,583 complaints were from Mumbai, 13,971 from Pune and 12,582 from Thane.
The data was part of a written reply submitted in response to questions from various ruling and opposition legislators concerning cyber frauds and investment scams in the state. The reply, presented by Chief Minister Devendra Fadnavis, who also holds the Home portfolio, revealed that between 2016 and May 2025, Maharashtra recorded 46,321 cybercrime cases involving financial frauds. These scams led to total losses of nearly Rs 11,033.97 crore.
To tackle this growing threat, the Home Department has established a Financial Intelligence Unit under Mumbai Police, as well as in every district SP office and police commissionerate. These units are responsible for taking preventive measures against schemes aimed at cheating investors.
On a separate matter, Fadnavis also addressed concerns about the smuggling of the drug Mephedrone. Responding to a question raised by BJP MLC Parinay Phuke, he confirmed that the government plans to bring an amendment during the current session to ensure those arrested in such cases are charged under the Maharashtra Control of Organised Crime Act.
Fadnavis said, “We have decided to bring the amendment in this session itself. MCOCA will be applied against the accused from now on.” He added that a Narcotic Drugs and Psychotropic Substances unit has been set up under each police station, and the state is working with national agencies for intelligence sharing and stronger enforcement.
According to the data shared, 303 Mephedrone smuggling cases were registered in 2022, 642 in 2023, and 545 in 2024.
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