Between November 2020 and October 2023, cybercriminals managed to siphon off a staggering ₹41 crore from the bank accounts of unsuspecting Gujarat residents, according to data tabled in the Gujarat Vidhan Sabha. While banks and authorities claimed to have implemented technical countermeasures, only ₹5.37 crore—just 13%—has been successfully recovered.
A total of 21,538 victims were reported, with 2022-23 alone accounting for over 11,000 cases. Alarmingly, only 24 arrests have been made out of 283 identified accused, raising concerns about the efficacy of enforcement and investigative mechanisms.
New Scams, Old Tools: Citizens Tricked by Simple Links and Fake Calls
Most victims reported losing money after clicking on phishing links disguised as messages from banks or official portals. Despite awareness campaigns, 87% of people who clicked on fraudulent links lost their money entirely.
Scammers employed a mix of social engineering and technical deception to gain unauthorized access to bank accounts. In many cases, victims shared OTPs unknowingly or were lured into revealing personal data through convincing voice phishing tactics.
The year-wise breakdown reveals a growing threat:
2020-21: 3,174 victims, ₹2.71 crore lost
2021-22: 7,219 victims, ₹14.75 crore lost
2022-23: 11,140 victims, ₹23.56 crore lost
Criminal Trails Stretch Beyond Gujarat, But Justice Remains Elusive
Authorities have managed to trace bank account holders and mobile numbers linked to the frauds using KYC, last withdrawals, and digital trails. Investigations have also expanded beyond Gujarat, showing signs of a larger inter-state or possibly international cybercrime network.
Banks have reportedly cooperated by freezing suspicious accounts and alerting police to fraudulent transfers. Still, the low arrest rate underscores significant challenges in coordination, jurisdiction, and digital enforcement capabilities.
With 20 new victims falling prey every day, state officials have admitted the urgent need for advanced cyber forensics tools, capacity building for police, and stricter regulatory oversight of online platforms and banking apps.