Shockwave Figures
In 2024, Indian citizens reported staggering financial fraud losses of over ₹22,845.73 crore, a massive 206% increase from ₹7,465.18 crore in 2023, as revealed in Parliament by the Ministry of Home Affairs.
The Scale of the Problem
36.37 lakh financial cyber‑fraud incidents were recorded via the National Cyber Crime Reporting Portal (NCRP) and the CFCFRMS system in 2024, compared to 24.43 lakh in 2023.
Official data shows 22.68 lakh cybercrime cases on NCRP in 2024, up 42% year-on-year.
Government Response & Tech Tools
The CFCFRMS, launched in 2021 under I4C, helped save over ₹5,489 crore through 17.8 lakh complaints that were reported promptly.
Authorities blocked 9.42 lakh SIM cards and 2.63 lakh IMEIs linked to fraud activity.
A Suspect Registry, launched on 10 Sept 2024, identified over 11 lakh suspect identifiers and 24 lakh mule accounts, saving an estimated ₹4,631 crore.
The Pratibimb module helped law enforcement trace criminals: 10,599 arrests, 26,096 linkages, and 63,019 assistance requests handled.
Recent Highlights Across States
Hybrid scams in Maharashtra: In Hyderabad suspects were arrested for defrauding over ₹1.94 crore via WhatsApp impersonation scams, freezing ₹84 lakh for the victim. Additionally, cybercrime ring behind a ₹95 lakh digital-arrest deepfake scam dismantled by UP STF; two arrested.
- Karnataka: From Jan to May 2025, cybercrooks stole ₹938 crore; the surge was fuelled by AI‑enabled phishing and deepfake attacks, comprising 80% of phishing vectors.
- Telangana: First half of 2025 saw a 24% drop in losses (₹681 crore), attributed to public awareness campaigns.
- Andhra Pradesh: Scams tailored by age group—students targeted via fake job offers, professionals via investment/crypto, and seniors via digital arrest schemes. 300+ monthly incidents in cities like Vizag and Vijayawada.
Why the Surge Now?
Rapid digital adoption — UPI, apps, smartphones reaching new users.
Fraudsters using advanced tactics — AI for phishing, deepfake calls, fake apps and websites
Low cyberawareness among users, especially first-time internet users in smaller towns; many victims are embarrassed or unaware of reporting options.
What’s Next? A Roadmap to Response
1. Speedy Reporting & Recovery
2. Expanded Tech & Law Enforcement Measures
Continue blocking suspect SIMs, IMEIs, and deactivating mule accounts.
Enhance I4C’s tools (like Pratibimb) for cross-jurisdiction coordination; scale up tech forensic infrastructure and training for state cyber units.
3. Mass Awareness Campaigns
Launch digital literacy initiatives through schools, banks, and vernacular media.
Encourage use of multi-factor authentication, strong passwords, verifying caller identity, not clicking suspicious links.
4. Industry & NGO Partnerships
Collaborate with cybersecurity firms and payments platforms.
Google’s Safety Charter 2025 aims to prevent ₹20,000 crore of fraud using AI‑powered detection systems for UPI and e‑transactions.
5. State‑Driven Success Stories
Telangana’s 24% reduction in losses demonstrates the effectiveness of localized awareness efforts.
Bihar upgraded its cyber capabilities—trained 792 officers, handled 79,240 complaints worth ₹468 crore, freezing ₹90 crore and returning ₹5.74 crore to victims.
Final Thoughts
The ₹22,845 crore cybercrime loss in 2024 is a stark wake-up call — underscoring how India’s boom in digital finance demands a corresponding scale-up in cyber resilience.
But it’s not all bleak: technological detection tools, inter-agency coordination, legal enforcement, and public education can turn the tide. Success will hinge on how quickly these systems move, how widely they reach, and how well citizens learn to protect themselves.
