Cybercrime in India has surged to alarming levels, with the country losing approximately ₹11,333 crore to online fraud in just the first nine months of 2024, according to data from the Indian Cyber Crime Coordination Centre (I4C) as reported by the Indian Express.
The I4C is a division of the Ministry of Home Affairs (MHA) aimed at tackling threats to cybersecurity in the country. In response, the central government has intensified efforts to combat these crimes, implementing measures to safeguard citizens and the economy.
The government has made significant strides in curbing cybercrime by targeting fraudulent communication channels. Minister of State for Home Affairs, Bandi Sanjay Kumar, informed the Rajya Sabha that over 6.69 lakh fake SIM cards and 1.32 lakh International Mobile Equipment Identity (IMEI) numbers have been blocked as of November 15, 2024. These actions were based on reports from police authorities and part of a broader strategy to disrupt the tools used by cybercriminals.
Tackling International Spoofed Calls
A notable trend in cybercrime has been the rise in international spoofed calls, where foreign cybercriminals manipulate caller IDs to display Indian mobile numbers. These calls are frequently used in scams involving fake digital arrests, FedEx frauds, and impersonation of government and police officials. The Centre, in collaboration with Telecom Service Providers (TSPs), has devised a system to identify and block such spoofed calls. Directions have been issued to TSPs to enhance their detection mechanisms and prevent these fraudulent calls from reaching citizens.
Escalating Cyber Fraud Complaints
In 2024 alone, nearly 12 lakh cyber fraud complaints were recorded, with 45% of these originating from Southeast Asian countries like Cambodia, Myanmar, and Laos. Since the launch of the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) in 2021, the platform has registered over 30.05 lakh complaints, exposing financial losses of ₹27,914 crore over the years.
The yearly breakdown of complaints reveals the growing prevalence of cybercrime, 1,35,242 complaints in 2021, 5,14,741 complaints in 2022 and 11,31,221 complaints in 2023. These numbers highlight a sharp increase in reported cases, with 2024 poised to surpass previous years.
Evolving Methods of Cybercrime
An analysis of 2024 fraud patterns shows that stolen funds are commonly laundered or withdrawn using methods like cheques, central bank digital currency (CBDC), fintech crypto platforms, ATMs, merchant payments, and e-wallets. These techniques demonstrate the adaptability of cybercriminals, leveraging advanced technologies and digital payment systems to exploit victims.
Despite the challenges, the government has achieved significant success in saving funds from cybercriminals. The CFCFRMS has prevented the loss of over ₹3,431 crore, recovering these funds from more than 9.94 lakh complaints. This is a testament to the system’s effectiveness in intercepting fraudulent transactions and providing timely assistance to victims.
As cybercrime continues to evolve, the government is ramping up its defenses through a combination of policy measures, advanced technologies, and collaboration with telecom operators. The blocking of fraudulent SIM cards, IMEI numbers, and spoofed calls, coupled with the efficiency of the CFCFRMS, highlights the Centre’s commitment to protecting its citizens in the digital space.
Manbilas Singh is a talented writer and journalist who focuses on the finer details in every story and values integrity above everything. A self-proclaimed sleuth, he strives to expose the fine print behind seemingly mundane activities and aims to uncover the truth that is hidden from the general public. In his time away from work, he is a music aficionado and a nerd who revels in video & board games, books and Formula 1.
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