Cyber Crime
Cyber Frauds Surge Past Rs 1,000 Crore in Mumbai: Investment and ‘Digital Arrest’ Scams Lead the Way
MUMBAI: In the past ten months, Mumbai has recorded cyber frauds exceeding Rs 1,000 crore, according to data from Mumbai Cyber. Reports made to the city’s cyber helpline, 1930, revealed that cyber fraud has surged by 281% this year.
The Mumbai Cyber team, leveraging the critical two-hour “golden window” following fraudulent activity, managed to freeze Rs 129 crore, about 12% of the total reported fraud amount.
From January to early November, Mumbai documented losses totaling Rs 1,084.75 crore, a sharp increase from last year’s Rs 262 crore reported cases. Since the launch of the 1930 helpline in May 2022, Mumbai has witnessed cyber fraud losses of Rs 1,379.21 crore. During this period, the helpline received 5,74,276 calls, leading to 72,503 registered complaints and 2,265 FIRs.
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Recovering funds remains challenging, with fraudsters using multi-layered methods to transfer money across accounts, often converting funds into cryptocurrencies like Bitcoin and sending them overseas, noted Cyber Cell officials.
As part of their efforts to combat such scams, the Mumbai Cyber Cell, in collaboration with the Department of Telecommunications, has blocked 30,864 mobile numbers involved in cyber fraud operations.
Surge in Investment and Digital Arrest Frauds
Mumbai Cyber Cell officials report that the city now faces over a dozen types of cyber fraud, including scams related to investments, employment, digital arrests, extortion, fake custom gifts, admissions, cryptocurrency, loans, data theft, phishing, and social media frauds. Investment fraud and digital arrest scams are particularly prevalent.
This year alone, Mumbai recorded 19,895 cyber fraud cases, with a detection rate of 21.47%, resulting in 4,784 arrests. Investment fraud accounted for 3,617 cases (18.8% of all cyber fraud cases), with 753 of these solved, leading to 868 arrests.
Investment fraudsters often lure victims through social media platforms, promoting online trading courses, seminars, and mentorships.
Many pose as representatives of registered Foreign Portfolio Investors (FPIs), encouraging individuals to download fraudulent apps claiming to provide exclusive access to stocks, IPOs, and institutional benefits.
Digital arrest fraud schemes, another common form of scam, use intimidation tactics. Scammers pose as law enforcement, contacting individuals with fake allegations of criminal activity such as money laundering. Victims are manipulated into believing a digital arrest has been issued, requiring them to stay on video calls and even book hotel rooms to remain “under arrest.”
To avoid arrest, victims are often pressured to make immediate payments via wire transfer, prepaid debit cards, or cryptocurrency.
Training and Awareness Campaigns
The Mumbai Cyber Cell is proactively training officers to tackle cybercrime through courses on cyber law and forensic techniques.
Over the last 2.5 years, 8,000 officers attended 310 sessions, where they learned standard operating procedures, collaborated with banks, social media companies, and telecom providers, and blocked over 30,000 phone numbers associated with cybercrimes.
In addition to law enforcement training, the Cyber Cell runs public awareness campaigns in schools, colleges, and other venues. Since 2022, these campaigns have included 643 events and over 500 billboards, reaching around 3,00,000 students and citizens through educational plays and social media.
Cyber Safety Tips for the Public
The Cyber Cell advises individuals to maintain privacy on social media, use strong and unique passwords for each account, and set purchase limits on payment cards. They also remind citizens to report any suspected cybercrime to the 1930 helpline or local police stations.