Bengaluru emerges as the leading tech-enabled city for scams: Cyber fraud has been on an upward spiral during the period 2021 through September 2024, reports the police while citing the cumulative loss to this city as an amount of Rs 2,270 crore during the period and six major types of scams where the loss involved nearly Rs 1,788 crore.
Important Fraud Categories
The figures point to considerable losses in the following fraud types:
Investment Frauds: Unrealistic returns promised by fraudsters led to a loss of ₹1,187.2 crore.
Job Frauds: Losses due to fake job offers stood at ₹601.23 crore.
Courier Scams: Well developed courier-related schemes accounted for ₹165.57 crore.
Card Scams: Stolen card details used for fraudulent transactions resulted in losses of ₹116 crore.
Phishing Attacks: Emails and messages designed to steal personal data caused ₹96.98 crore in damages.
Loan App Frauds: Fraudulent lending platforms resulted in ₹32.25 crore in losses.
Challenges in Recovery
Recovery of stolen funds is still a challenge for the investigators. Police have identified two major hurdles:
This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents