Bengaluru battles with cyber fraud: Rs 204cr lost in 9 months

Bengaluru: Data reveals that cyber fraud has taken a significant toll on Bengaluru residents, with a daily loss of Rs 1.7 crore over a nine-month period. Online job fraud alone has accounted for a staggering Rs 204 crore in losses during the period from January to September 2023.
Online job fraud schemes commonly entice victims with the promise of remote working, part-time employment, and online job opportunities. Scammers persuade individuals to complete tasks and, in some cases, require them to make payments to supposedly release their earnings.
Out of the total loss, Rs 73 crore was frozen, and Rs 73,490,991 was successfully recovered. Notably, the police managed to return over Rs 7.6 crore to the victims.
Earlier this year, the Bengaluru Police dismantled a massive cyber fraud operation, exposing a scam worth Rs 854 crore. Six individuals were arrested for defrauding numerous victims across India through an investment scheme.
According to city police data, more than 50,000 cybercrime cases were registered in Bengaluru between 2017 and May 31, 2023. Of these cases, 41% (20,662 cases) were related to QR codes, links, or the unauthorized use of debit/credit card information to divert money from victims’ bank accounts. Last year, around 1,300 out of 9,940 reported cybercrime cases were linked to QR codes. In the first half of this year, over 7,000 cases have been registered, with 950 associated with QR code scams.
Since January, the city has witnessed 277 cases related to loan apps. 195 cases of bitcoin-related fraud, and 84 sextortion cases, culminating in a collective loss of more than Rs 24.62 crore. Impressively, the police have managed to recover Rs 74,13,195 and return Rs 58,20,801 to the victims in these cases.

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