The government has saved Rs 5,111.80 crore in just ten months since the launch of the online suspect registry, which was introduced to curb cyber and financial fraud. The system has successfully blocked 13 lakh fraudulent transactions between September 2024 and August 2025.
Developed by the Indian Cyber Crime Coordination Centre (I4C) and based on the National Cybercrime Reporting Portal (NCRP), the registry holds data of 1.4 million cybercriminals involved in financial scams and cybercrimes. This information is shared with banks, enabling them to identify suspicious activity before losses occur.
The suspect registry was launched on 10 September last year by Union Home Minister Amit Shah and can be accessed by central and state investigation as well as intelligence agencies.
Officials confirmed that 3,54,884 bank accounts linked to fraudulent money transfers have been frozen, while 11,10,566 unique accounts have been identified. A senior government official said, “Around 14.13 lakh people data have been shared by the banks and financial institutions in the system, and data of around 13.06 lakh suspects identifiers were shared with the banks and financial institutions by the Centre.”
Currently, 61 banks and financial institutions are connected to the system. These include 35 private sector Indian banks, 12 nationalised banks, six regional rural banks, six wallet and merchant service providers, and one foreign private sector bank.
“The objective of the system is to help all the banks and financial institutions to verify credentials of their customers before extending or giving any sort of financial services to them. With the help of a suspect registry, now the banks and financial institutions can monitor money transactions going into suspected accounts in real-time,” an official explained.
Despite these measures, cyber fraud remains a major challenge. Agencies have found that India is losing more than Rs 1,000 crore every month to online fraud. In January 2025, fraud amounted to Rs 1,837 crore, followed by Rs 1,573 crore in February, Rs 1,683 crore in March, Rs 1,314 crore in April, Rs 1,644 crore in May, Rs 1,584 crore in June and Rs 1,829 crore in July. Over 80 percent of these cases are linked to financial fraud.
Refunds have also been issued, with Rs 15.03 crore returned in January, Rs 9.48 crore in February, Rs 9.87 crore in March, Rs 15.75 crore in April, Rs 14.60 crore in May, Rs 18.45 crore in June and Rs 11.73 crore in July.
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