Trichiites Lose Crores to Cyber Frauds Aiming Big
Trichiites Lose Crores to Cyber Frauds Aiming Big
“An elderly man from Trichy has been scammed and lost a huge amount of money because of being unawareness.”
A 65-year-old Trichy man named Govindasamy (name changed) just retired from his position as a professor at a prestigious university. After looking for ways to invest a sizeable portion of his retirement benefits, he was duped by a social media company that claimed to be an institutional trader and offered huge profits in a matter of months.
After investing roughly Rs 50 lakh in smaller installments, Govindasamy discovered two months later that he had been duped because no profits were showing up. According to the Trichy cybercrime police, they receive five to ten complaints per day.
In actuality, cybercrime accounts for at least 25% of all complaints that the Trichy City Police receive. Financial frauds, such as online buying, digital investment, and online employment scams, account for at least 70% of these complaints.
Then there are instances of “digital arrest” cheating. Educated and intelligent people, such as college professors, doctors, businesspeople, and merchants, are among those who are defrauded. Since the establishment of the Trichy municipal cybercrime unit in 2021, the annual number of cases has surpassed one thousand in recent years.
More than 1,200 instances were reported in 2023, more than 1,400 in 2024, and approximately 1,000 in 2025. Over the previous eight months, complainants reported losing a total of Rs 14.43 crore to cyber thieves.
Despite claims of a rising rate of recovery, police were only able to recover Rs 2.24 crore. They claimed to have recovered almost Rs 13 lakh in Govindasamy’s case. Police blame the poor recovery rate on a number of factors, including the complexity of fraud, the long-distance reach of fraudsters, the lack of staff in the cyber cell, and delays in reporting crimes.
K Shanmugapriya, Inspector, Cyber Crime
| “The time it takes for victims to file a complaint determines how much of the lost money can be recovered. But more often than not, they would have done business gradually rather than all at once.”
He claimed that scammers take advantage of people looking for quick cash, as well as Govindasamy and others who wish to increase their funds more quickly. Recovery is challenging since a large number of suspects in digital investment scams run scam rings out of nations like Thailand, Myanmar, Laos, and Cambodia. |
Sources
| The rings are made up of Indians who are trained in or employed by fraud factories or scam compounds. |
Indians are the ones who perpetrate internet jobs (fake reviews) and online retail fraud (cheap product prices). Pyramid schemes, stock trading, cryptocurrency, and app-based investments are among the investment fraud cases that Trichy is seeing.
According to police, more than 95% of social media profiles that advertise themselves as institutional traders and entice people to invest in them are fake. Additionally, there have been cases of data theft involving user information. In order to effectively combat cyber fraud, police have advised residents to be more vigilant about such crimes.
Senior Official
| “We encourage people to use pattern locks and passwords to secure their money transaction apps and to keep their cell phones secure. Never follow instructions from calls or texts from dubious numbers or emails.” |
About The Author
Suraj Koli is a content specialist in technical writing about cybersecurity & information security. He has written many amazing articles related to cybersecurity concepts, with the latest trends in cyber awareness and ethical hacking. Find out more about “Him.”
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