India’s efforts to curb rising digital and financial cyber frauds are showing measurable results. The Union government has said that more than Rs 7000 crore has been saved so far through the Citizen Financial Cyber Fraud Reporting and Management System by acting quickly on over 23 lakh cyber fraud complaints.
The information was shared by Minister of State for Home Affairs Bandi Sanjay Kumar in a written reply to the Rajya Sabha on Tuesday. He said the system was launched in 2021 to enable immediate reporting of financial cyber frauds, stop further diversion of funds, and ensure stolen money is blocked or frozen before fraudsters can withdraw it.
According to government data, once a complaint is registered through the 1930 helpline or the online cybercrime portal, real time alerts are sent to banks, payment gateways, and financial institutions. This allows them to take swift action to block or freeze suspicious accounts and transactions.
Officials noted that the initial hours after a fraud are critical, as cybercriminals usually try to withdraw or move funds quickly. Earlier, delays in reporting often resulted in complete loss of money. With stronger coordination and technology integration, a large number of transactions are now being stopped at the initiation stage itself.
To strengthen the national cybercrime response, the Ministry of Home Affairs has set up the Indian Cyber Crime Coordination Centre. The centre acts as a national hub for preventing, detecting, investigating, and prosecuting cybercrime.
Through this platform, state police forces, central agencies, banks, and technology platforms are connected in a common system. Officials said the focus is not only on investigating crimes after they occur, but also on creating early warning mechanisms to stop fraud attempts before losses happen.
The government also told Parliament that in January 2025, a Memorandum of Understanding was signed between the coordination centre, the Ministry of Home Affairs, and the United States Department of Homeland Security. The agreement aims to improve cooperation in cybercrime investigations, training, and capacity building.
Citizens have been urged to report financial cyber frauds immediately by calling the toll free 1930 helpline or using the official cybercrime portal. The ministry said faster reporting increases the chances of blocking funds, as thousands of bank accounts have already been frozen through this process, directly contributing to the reported savings.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.
