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Digital scammers loot Rs 1,447 crore from unsuspecting victims in 2023-24
7/31/2024 11:01:01 PM

Early Times Report

Jammu, July 31: Despite intensive awareness campaigns launched by the authorities, the number of digital fraud cases has been increasing in the country every year.
According to data tabled in the Rajya Sabha by the Minister of State for Finance, Pankaj Chaudhary, in the financial year 2019-20, 2677 digital fraud cases were reported in the country. The number of such cases jumped to 6699 in the financial year 2022-23 and in the 2023-24 financial year number the digital fraud cases were 29028.
Similarly in the financial year 2019-20, an amount worth Rs 129 crore was involved in digital fraud out of which only Rs 12 crore were recovered by the concerned authorities.
In the 2023-24 financial year, fraudsters looted Rs 1457 crore from the people through digital fraud. Out of these Rs 1457 crore only Rs 139 crore was recovered from the cheaters.
The Minister further said that the Reserve Bank of India (RBI) has informed that they do not maintain such specific data.
Further, as informed by Ministry of Home Affairs, ‘Police’ and ‘Public Order’ are State subjects as per the Seventh Schedule of the Constitution of India.
The States
In the financial year 2019-20, 2677 digital fraud cases were reported in the country.
The number of such cases jumped to 6699 in 2022-23 and in the year 2023-24 number rose to 29028.
RBI has informed that they have issued three revised Master Directions on Fraud Risk Management for the Regulated Entities (REs), on July 15, 2024.
The Ministry of Home Affairs (MHA) has launched a National Cybercrime Reporting Portal (www.cybercrime.gov.in) as well as a National Cybercrime Helpline Number ”1930”.
UTs are primarily responsible for the prevention, detection, investigation, and prosecution of crimes including cybercrime through their Law Enforcement Agencies (LEAs). The Central Government supplements the initiatives of the States/UTs through advisories and financial assistance under various schemes for capacity building.
RBI has informed that they have issued three revised Master Directions on Fraud Risk Management for the Regulated Entities (REs), on July 15, 2024.
Further, the Indian Computer Emergency Response Team (CERT-In) takes various measures for the safe usage of digital technologies and prevent cyber frauds through the issuance of alerts and advisories, and cybersecurity mock drills to enable assessment of cyber security posture and preparedness of organizations.
In order to facilitate the citizens to report any cyber incidents including financial frauds, the Ministry of Home Affairs (MHA) has launched a National Cybercrime Reporting Portal (www.cybercrime.gov.in) as well as a National Cybercrime Helpline Number ”1930”.
Further, customers can also report financial fraud on the official customer care website or branches of the banks.
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