Cyber fraud in Mumbai alone has cost over $127 million in ten months, with scams including investment frauds.

Cyber fraud in India has surged, with Mumbai alone reporting losses exceeding Rs 1,000 crore ($127 million) in ten months. The Mumbai Cyber team has frozen Rs 129 crore within the critical two-hour window following frauds. Common scams include investment fraud and digital arrest schemes, with over 5,74,276 calls made to the 1930 helpline. India's rapid digitalization and lagging digital literacy contribute to the vulnerability of its population to scams. Cases like a businesswoman who lost Rs 5 crore highlight the sophistication and impact of these frauds.

November 12, 2024
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