Increase in cyber fraud cases in the year 2024, loss of ₹ 60 crore daily in India

In the year 2024, the scope of cyber fraud increased to an unprecedented level. According to a report, cyber fraud worth Rs 85 lakh crore has taken place globally. In India alone, around ₹60 crore was laundered every day. The Union Home Ministry said that WhatsApp, Telegram, and Instagram have proven to be the platforms for most cyber frauds. Due to the millions of users of these apps, it has become easy for fraudsters to reach their victims.

Statistics of fraud on WhatsApp, Telegram and Instagram

In the first three months of 2024, the government received 43,797 complaints of fraud through WhatsApp.

• Telegram: 22,680 complaints.
• Instagram: 19,800 complaints.

Use of Google Service Platforms

Cyber ​​criminals target people using Google services. These fraudsters use advanced technology to trap innocent people on various social media platforms.

Who are the targets of cyber fraudsters?

According to the Home Ministry report, this fraud is known as “Pig Butchering Scam” or “Investment Scam”.

• Target: Unemployed youth, housewives, students, and needy people.
• Method:
  • Fraudsters launch illegal loan apps with the help of fake Facebook ads.
  • Crimes like money laundering and cyber slavery are committed through these apps.

government action

The government has given strict instructions to Facebook and other platforms to remove and identify these illegal links.

Increasing trend and risk of online payment

After the Corona epidemic, the trend of online banking has increased rapidly in India.

• Crores of people are doing financial transactions through UPI, card payments, and mobile banking.
• Everywhere, whether it is a tea shop or a supermarket, digital payments are being used.

Challenges:

With the increase in online payments, cases of cyber fraud are also increasing rapidly.

• Every year lakhs of people are becoming victims of this fraud.
• Vigilance and security have become extremely important in online transactions.

Measures to prevent cyber fraud

It is most important to be alert to avoid cyber fraud.

1. Avoid unknown emails, messages and calls:
   • Never give personal or banking information to an unknown person.
   • Check the validity of any link before clicking on it.
2. Create strong passwords:
   • Do not use name, mobile number or date of birth in the password.
   • Change passwords regularly.
3. Two Factor Authentication (2FA):
   • Use 2FA for your online accounts.
   • This provides additional security.
4. Be careful:
   • Never be careless about unusual transactions or emails.
   • Update all your devices and apps regularly.