Government Foils Cyber Fraud Worth Over ₹8,600 Crore, Says MoS Home Affairs

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India Thwarts ₹8,600 Crore in Cyber Fraud

India’s Central Government has thwarted a staggering ₹8,600 crore in cyber fraud, according to Minister of State for Home Affairs Bandi Sanjay. This significant achievement was made possible through the coordinated efforts of banks, law enforcement agencies, and cybercrime monitoring platforms.

Efforts to Combat Cybercrime

Between numerous complaints and suspect identifier data inputs from banks, investigators have been able to track and block suspicious transactions, preventing cybercriminals from siphoning off funds. As of January 31, authorities had processed over 24 lakh cyber fraud complaints and received more than 23 lakh suspect identifier data inputs from banks.

Decline of Transactions and Blocking of Mule Accounts

These efforts have led to the decline of transactions worth ₹9,518 crore, resulting in substantial losses for cyber fraud schemes. Mule accounts, often used by fraud networks to move or withdraw illegally obtained money, have been blocked as part of these efforts.

Cybercrime Investigation Assistance

According to the Ministry of Home Affairs, digital platforms, including Samanvaya, a Management Information System designed to assist law enforcement agencies in sharing information and conducting investigations, have supported over 1.49 lakh cyber investigation assistance requests, contributing to the arrest of more than 21,000 accused persons involved in cyber offenses.

India’s Cybercrime Response Framework

India’s cybercrime response framework includes the Indian Cyber Crime Coordination Centre (I4C) and the National Cyber Crime Reporting Portal, which enable citizens to report cyber offenses online. The national cybercrime helpline, 1930, also plays a crucial role in rapid reporting, allowing victims to quickly report financial cyber fraud and enabling banks to freeze suspicious transactions before funds are withdrawn.

Ongoing Support to States and Union Territories

Despite these efforts, cybercrime cases continue to rise, prompting the government to pledge ongoing support to states and union territories through capacity building, forensic support, and coordination mechanisms to strengthen cybercrime investigations and prosecutions.