Indian citizens have suffered a staggering loss of over ₹22,845.73 crore to cyber criminals in 2024 alone, marking an alarming increase of nearly 206 percent compared to the previous year. This grim statistic was revealed in the Lok Sabha, underscoring the escalating threat of cyber fraud across the nation.
Minister of State for Home Affairs, Bandi Sanjay Kumar, provided the figures, stating that data from the National Cyber Crime Reporting Portal (NCRP) and the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) confirmed the massive financial drain. In 2024, the reported losses due to cyber frauds stood at ₹22,845.73 crore, a sharp rise from ₹7,465.18 crore recorded in the preceding year.
This dramatic surge in financial losses highlights the growing sophistication and pervasiveness of cybercrime operations targeting individuals. Fraudsters employ a wide array of tactics, including phishing, online investment scams, identity theft, and various forms of digital impersonation, to deceive and defraud unsuspecting victims.
The government’s disclosure in Parliament serves as a stark reminder of the urgent need for enhanced cybersecurity measures, increased public awareness campaigns, and more robust law enforcement efforts to combat this rapidly evolving threat. Citizens are continually urged to exercise extreme caution when engaging in online transactions, sharing personal information, or responding to unsolicited communications that appear suspicious.
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