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Cybercriminals adopting new methods for fraud, survey reveals shocking insights: Details here

A new survey has been released regarding cyber fraud, uncovering several shocking statistics. According to the survey, cybercriminals are defrauding people using new tactics.

Written By: Om Gupta New Delhi Published on: June 20, 2024 11:57 IST
Cyber criminal
Image Source : FREEPIK Cyber criminal

The number of cyber fraud cases has increased significantly in recent years. According to a recent survey, 47 percent of Indians have experienced one or more financial frauds in the last 3 years. This statistic is alarming, as it means that nearly half of the country's 1.4 billion population is potentially at risk of falling victim to cybercriminals. The most common types of fraud reported in the survey were related to UPI and credit cards.

The survey also revealed that 43 percent of respondents reported fraudulent transactions on their credit cards, while 36 percent said they had experienced fraud with UPI transactions. Shockingly, 60 percent of those surveyed admitted to not reporting fraudulent transactions to law enforcement agencies or regulators in the last 3 years.

In addition to the survey findings, data from the Reserve Bank of India (RBI) showed a 166 percent increase in cyber fraud cases in the last financial year (2023-24). The RBI reported over 36,000 cases of cyber fraud, resulting in a total loss of Rs 13,930 crore. Cybercriminals continue to devise new methods to defraud individuals, including posing as customs officers to commit fraud.

To raise awareness about these scams, the Central Board of Indirect Taxes and Customs (CBIC) launched a social media campaign warning people about fraudulent phone calls from individuals posing as customs officers. The CBIC emphasised that the Customs Department does not make such calls and advised people not to share their personal and bank details with anyone.

Meanwhile, in a major crackdown called 'Operation Anti Virus', the Rajasthan Police, in collaboration with India TV, has revealed shocking details about cybercrime operations based in Mewat, Rajasthan. Many houses in the village were transformed into call centers where young men and women were recruited to make fraudulent calls. These cybercriminals are using new and sophisticated tactics to effectively deceive hundreds of victims every day.

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