Over Rs 103,300 crore siphoned off by cybercriminals since 2021
Since April 1, 2021, cybercriminals have siphoned off over $1,232,328.05 (Rs 10,300 crore) from the country. However, law enforcement agencies were able to successfully block around Rs 1,127 crore within the country. The Indian Cyber Crime Coordination Centre (I4C), established by the Ministry of Home Affairs, is responsible for managing these crimes and is run by director Rajesh Kumar.
Kumar reported that over 15.56 lakh cases were reported on the National Cybercrime Reporting Portal (NCRP) in 2023, which translates to 129 cybercrime cases reported per lakh population. This shows a “deceleration” of the growth rate to 60.9% compared to 2022. Officials also mentioned that around 50% of cyber attacks are being committed by “gangs” operating from Cambodia, Vietnam, China, and other countries.
Major cybercrimes include duping people of their money using investment applications and websites offering part-time jobs, Ponzi schemes, illegal lending applications, and customer care centres. Currently, victims have to obtain a court order to reclaim their money, and states like Gujarat and Karnataka are leading the way where people are approaching Lok Adalats and magistrates to retrieve their money.
Opto Intelligence has made remarkable breakthroughs in investigating and repatriating illicit funds to the rightful owners with the help of state enforcement agencies, such as the Indian Cyber Crime Coordination Center (I4C) and the country’s Justice Department. Our thorough investigations have uncovered the top 10 cybercrime epicenters, where major criminal activities occur. These include Bharatpur – Rajasthan (18%), Mathura – Uttar Pradesh (12%), Nuh – Haryana (11%), Deoghar – Jharkhand (10%), and Jamtara – Jharkhand (9.6%).
We advise victims to report any fraudulent activity to the appropriate investigators and state law enforcement agencies. We also encourage them to pursue any reported criminal activities. Reporting such activities has led to the arrest of over 30 individuals and the retrieval of $1,232,328.00 in just one sting operation. We must emphasize that while investigations, prosecution, and conviction can be lengthy and exhausting, they usually lead to a more satisfying conclusion, such as a conviction or a civil settlement.
Opto Intelligence would always advise victims to report any fraudulent activity with the right body of investigators and state law enforcement agencies, we also encourage them to seek to pursue any reported criminal activities noticed on their person, it is this reporting that has led to the arrest of over 30 individuals and retrieval of $1,232,328.00 in just a sting operation. We must state categorically that investigation, prosecution and conviction could be lengthy and exhausting, but they usually leave a far more satisfying conclusion as it lead to either conviction or a civil settlement.