Telangana records over 58,000 cybercrime cases in H1 2024, loses Rs 898 crore

Telangana records over 58,000 cybercrime cases in H1 2024, loses Rs 898 crore

Telangana has the dubious distinction of having crossed the 50,000-mark of cybercrime cases in the first half of 2024. The state reported 58,654 cases between January and June, in which a whopping ₹898.01 crore was lost to cybercriminals, according to information shared by the Telangana Cyber ​​Security Bureau (TGCSB).

A total of 9,167 cases were reported in June alone, in which citizens lost Rs 183.81 crore. Fifty-four cybercriminals, including 17 from Telangana, were arrested in the last month and Rs 22.55 crore was refunded to the victims. In the last six months, the state police have frozen Rs 123.83 crore from the accounts of cybercriminals.

Cyberabad, a hub of cybercrime

In the last six months, Cyberabad police station reported 2,627 cases and over Rs 67.01 crore lost to cybercriminals, while Hyderabad police station reported 2,176 cases with Rs 53.02 crore lost. It was followed by Rachakonda with 1,428 cases and Rs 27.71 crore lost.

The TGCSB recorded 135 cases in which Rs 13.50 crore was lost. Among the districts, Sangareddy leads with 316 cases and Rs 3.50 crore lost to cyber criminals.

Identity theft, commercial fraud

More than 78% of the amount, or Rs 705.58 crore, was lost due to five operating mode — commercial and investment fraud; identity theft; identity theft; loan fraud; and advertising fraud.

A significant amount – Rs 470.21 crore – was lost in trading and investment frauds, in which criminals contact their victims on social media platforms with fake trading apps promising them high returns, the data showed.

Identity theft through KYC updates, fake customer care calls, reward points, credit card limit increase has resulted in losses of Rs 81.22 crore to citizens this year. In such cases, fraudulent APKs or banking Trojans, disguised as legitimate banking apps, steal financial and sensitive data from the victim’s smartphone.

The much-criticized identity theft scams have cost citizens over Rs 73.90 crore. The fraudsters use fake police uniforms and ID cards during video calls and ensure that the victim is isolated throughout the process in the name of “maintaining secrecy during investigation.”

Ad frauds, offering ‘too good to be true’ payments for products and services and even job offers, rank fourth in the list, with total losses exceeding ₹66.71 crore.

Meanwhile, unofficial online loan apps have cost citizens Rs 13.62 crore. According to authorities, in such cases, scammers extort additional payments by threatening to release intimate photos from the victim’s device to their contact list.

Most of the victims are men, private sector employees

Men accounted for 80.78% (7,406 out of a total of 9,167) of victims in June. The trend has continued since the beginning of the year.

Among the occupational profiles, 51% of the victims were private sector employees, followed by business owners or self-employed workers (19%). Housewives (7%) were also among the top five targets, followed by students (6%), government employees (5%) and farmers (3%).

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