In the first four months of 2024, ₹1,750 crore has been lost to cyber criminals. Victims are being targeted using online investment and trading scams, fake digital arrests, and OTP forwards, amongst others. During its annual conference in January, the Indian Cybercrime Coordination Centre (I4C, Ministry of Home Affairs) reported that while some proportion of the amount that has been defrauded by scamsters since April 2021 was “blocked due to prompt government initiatives”, only 9-10 per cent of the same has been returned to the victims.
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This is the third article in our three-part series. The first and second parts are linked below.