Recent statistics from the Indian Cybercrime Coordination Centre (I4C) illustrate a significant rise Cyber Scams in India. Data from I4C discloses that a notable portion of these fraudulent cyber activities in 2024 revolve around counterfeit trading applications, lending applications, gaming platforms, dating services, and algorithm exploitation.
The cybercrime division reported that between January and April of the current year, they have documented 20,043 cases of illicit trading activities, amounting to Rs 14,204.83 crore, alongside 62,687 instances of investment frauds totaling Rs 2,225.82 crore. These findings underscore the eminent dangers posed by such illicit practices in India.
Fraudsters are targeting individuals through call spoofing
The victim is contacted through a phone call originating from an Indian number that has been manipulated using call spoofing. The scammers also impersonate officials from various law enforcement agencies such as the Central Bureau of Investigation, National Investigation Agency, Directorate of Enforcement, Reserve Bank of India, and state and Union Territory authorities and thus making it easier to conduct Cyber Scams in India.
Recently, the Gujarat Police dismantled an illicit stock market scheme and apprehended 17 individuals. This operation, under the guise of ‘Angel Broking Customer Care’, enticed victims through a WhatsApp group. In another instance, a pregnant woman in Mumbai fell victim to a remote work scam, losing Rs 54 lakh within four days. Additionally, a woman in Delhi was swindled of Rs 23.5 lakh by a counterfeit investment platform she discovered on social media.
More Than 7,000 Complaints of Cyber Scams in India Registered Daily
The data provided by I4C shows that a total of 740,957 complaints have been lodged this year. Until May of this year, an average of over 7,000 complaints were recorded daily by IC4.
The number of complaints related to digital fraud has been on the rise in recent years: 26,049 in 2019; 255,777 in 2020; 452,414 in 2021; 956,790 in 2022; and 1,556,215 in 2023. This demonstrates a consistent upward pattern, with cybercrime complaints increasing by approximately 113.7% from 2021 to 2022, and by 60.9% from 2022 to 2023.
Key areas pinpointed in Southeast Asia
According to Rajesh Kumar, the CEO of the Indian Cybercrime Coordination Centre, the majority of Cyber Scams in India are thought to operated from the bases in significant areas in Southeast Asia. These include Pursat, Koh Kong, Sihanoukville, Kandal, Bavet, and Poipet in Cambodia; Thailand; as well as Myawaddy and Shwe Kokko in Myanmar.
What Government is Doing
Government efforts to prevent Cyber Scams in India have resulted in the freezing of almost 325,000 mule bank accounts in the past four months through collective actions by law enforcement agencies and the I4C unit. Moreover, around 530,000 SIM cards have been deactivated, and 3,401 social media accounts, including those in WhatsApp groups, have been suspended.
Key Takeaways
- The Indian Cybercrime Coordination Centre notes a surge in online trading scams with fake trading apps, loan apps, gaming apps, dating apps, and algorithm manipulation being major concerns in the country.
- Scammers targeting Indian victims are believed to be operating from Southeast Asian locations such as Cambodia, Thailand, and Myanmar.
- The I4C data reveals a significant increase in incidents of cyber scams in India, with more than 7,000 complaints registered per day, highlighting the escalating threat of digital fraud in India.
Conclusion
The Indian Cybercrime Coordination Centre reports a rise in cyber scams in India especially online trading scams, indicating a growing trend of cyber fraud incidents associated with fake apps and algorithm manipulation. Scammers targeting India are suspected to operate from Southeast Asia, and the number of complaints related to digital fraud has been steadily increasing. The efforts to combat these scams include freezing mule bank accounts, blocking SIM cards, and freezing social media accounts.
Frequently Asked Questions (FAQs)
1. What are cyber crimes?
Cyber crimes are criminal activities that are carried out using computers or the internet, such as hacking, identity theft, online fraud, and cyberbullying.
2. Why is there an unprecedented rise in cyber crimes in India?
There are several factors contributing to the rise in cyber crimes in India, including increased internet penetration, lack of cybersecurity awareness, inadequate laws and regulations, and rapid digital transformation.
3. What are the most common types of cyber crimes in India?
Common types of cyber crimes in India include phishing, identity theft, online financial fraud, ransomware attacks, and cyberbullying.
4. How can individuals protect themselves from falling victim to cyber crimes?
Individuals can protect themselves by using strong and unique passwords, being cautious when sharing personal information online, keeping software and security programs up to date, and being aware of common cyber threats.
5. What is the government doing to address the rise in cyber crimes in India?
The Indian government has introduced various cybersecurity initiatives and laws to combat cyber crimes, such as the Information Technology (IT) Act and the National Cyber Security Policy.
6. What should I do if I become a victim of a cyber crime in India?
If you become a victim of a cyber crime, you should report it to the Cyber Crime Cell of the local police department or the Indian Computer Emergency Response Team (CERT-In) for assistance.
7. How can businesses protect themselves from cyber crimes in India?
Businesses can protect themselves by implementing robust cybersecurity measures, conducting regular security audits, providing cybersecurity training to employees, and having a response plan in place in case of a cyber attack.
8. Where can I find more information and resources on cybersecurity in India?
You can find more information and resources on cybersecurity in India through government websites, cybersecurity organizations, and reputable online sources dedicated to cybersecurity awareness and education.