Cyber crime is an illegal activity in which computer is used as a primary means of commission. In general terms, any illegal activity which is done using digital devices is called cyber crime. Financial cyber crime is an illegal act that is used to steal money from a bank account through computers and the internet.
National Cyber Crime Reporting Portal (NCRP) https://cybercrime.gov.in has been launched by the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, Government of India to enable citizens to report all incidents related to cyber crimes on 24×7 basis. In addition, National Cyber Crime Reporting Helpline Number 1930 has been launched exclusively by I4C for reporting complaints related to financial cyber crime. The number of financial cyber crime cases reported on the National Cyber Crime Reporting Portal (NCRP) from 2019 to 2024 is as follows: (Data Source: Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, Government of India).
Year | Number of Financial Cyber Crime Complaints Reported |
2019 | 26049 |
2020 | 257777 |
| 2021 | 452414 |
| 2022 | 966790 |
2023 | 1556218 |
| 2024 | 1918000 |
According to data from National Cyber Crime Reporting Portal, it was found that financial cyber crime has increased more than seventy-three times from 2019 to 2024. The number of such complaints is increasing rapidly year after year, which is a matter of serious concern.
In the above cases, there are various types of financial cyber crimes involved such as KYC fraud, refund based fraud, AEPS fraud, UPI QR code fraud, illegal loan app fraud, credit/debit card fraud, WhatsApp hacking fraud, sextortion fraud, digital arrest fraud, investment fraud, .APK file fraud, money mule etc. Cyber criminals are using different types of modus operandi to deceive the innocent people.
Financial cyber crime can be reduced through cyber awareness. Cyber awareness can be easily disseminated amongst citizens through the following questions and their answers:
1. Should we take the help of an unknown person to withdraw money from the ATM?
No. If you give your ATM card to an unknown person, then he will keep your ATM card fraudulently and give his fake card to you and also note down your ATM PIN. After that, he will withdraw money from your bank account using your ATM card and ATM PIN.
2. Should we download and install .APK file?
No. Do not download and install .APK files received through Message/Email/WhatsApp/Telegram etc., otherwise your mobile phone may be hacked. Keep in mind, always install apps from the authorized Play Store/App Store only.
3. Should ATM PIN, UPI PIN, Password, OTP, Card Number, Expiry Date, CVV be shared over the phone?
No. You may be victim of cyber fraud if you share.
4. What to do if .APK file is installed by mistake?
Immediately disconnect your mobile phone from the internet and uninstall .APK file. If you are unable to locate the .APK file, you can also do a factory reset of your mobile phone.
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5. Should we click on unknown links?
No. Do not click on unknown links, otherwise you may be victim of cyber fraud.
6. Do we need UPI PIN to receive money in our bank account?
No. UPI transaction PIN is used to withdraw money from the account. UPI PIN is not required to receive money in the account.
7. Should we share confidential personal and financial details such as Aadhaar Number, PAN Number, OTP, Debit/Credit Card Number, Expiry Date, CVV, Online Banking Password, PIN etc. through phone/message/email/social media/link etc.?
No. If you share the above details, you may be victim of cyber fraud.
8. Should we install Anydesk or TeamViewer Quick Support app on our mobile phone?
No. If you install this app and tell someone the 9 digits code given in the app, then he will hack your mobile phone and withdraw money from your bank account by taking payment credentials.
9. What should you do if you receive a video call in the name of CBI, ED, Police, RBI, Income Tax etc. in the name of digital arrest?
Don’t be afraid! Complain about it to the nearest police station or to the National Cyber Crime Reporting Portal https://cybercrime.gov.in. Fraudsters make such type of call to dupe innocent people.
10. Should we join an unknown WhatsApp or Telegram group?
No. If you join such group, you may be victim of cyber fraud. Fraudsters make such type of group to dupe innocent people in the name of online investment.
11. How and where to update Bank KYC?
At the Bank’s branch, Bank Mitra/ BC location, Internet Banking/ Mobile Banking. You can also update your bank KYC through video KYC (VCIP- Video-based Customer Identification Process) by visiting the bank’s official website.
12. Should our bank account be used to receive another person’s money?
No. If someone asks your bank account number for aforesaid purpose, then flatly refuse it.
13. Where to report cyber fraud?
Call the National Cyber Crime Reporting Helpline number 1930 immediately or report at National Cyber Crime Reporting Portal https://cybercrime.gov.in.
14. Should you complain about cyber fraud to your bank?
Yes. Be sure to inform your bank about this so that online banking facilities can be blocked to avoid further losses.
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15. How to find your bank’s toll-free number?
Bank’s toll-free number is available on the bank’s passbook, debit card/ credit card and the bank’s official website/ official app.
16. Where to report suspected cyber fraud?
Suspected cyber fraud can be reported at National Cyber Crime Reporting Portal https://cybercrime.gov.in. You can also report suspicious calls/ messages on the Chakshu portal https://sancharsaathi.gov.in provided by the Department of Telecommunications, Government of India.
17. Where to get the latest cyber security related information?
Follow CyberDost, the official social media account of the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs.
Be Aware and Be Cyber Safe!
Disclaimer: “All contents presented in this article are the personal views of the author. These materials can not be considered as official views of the author.”
Author: Satyendra Sharma (Chief Manager- IT), Punjab National Bank, Head Office: Centre for Learning & Innovation