Data from the cybercrime department shows that citizens of Bengaluru have lost an incredible ₹1,242.7 crore to cybercriminals in the first eight months of 2024 alone.
Spike in Cyber Crimes
According to a media report, these figures are quite significant because they represent a significant increase of ₹214.6 crore when compared to the cumulative losses for the previous three years combined.
Furthermore, the entire amount of money that hackers have stolen this year is more than the sums that they have taken in 2021, 2022, and 2023 put together.
Additionally, Bengaluru, the hub of the nation’s high-tech sector, has seen a startling 12,356 cybercrimes so far this year (as of August 31).
This equates to 1,544 cases on average per month.
A monthly average of 1,470 cybercrimes was recorded in this city in 2023, totalling 17,633 cases.
According to the media report, when we look more closely at the amount of money that hackers have stolen this year, we find that it tragically exceeds the whole amount that they took in 2021, 2022, and 2023 combined.
This information comes at a time when people are becoming increasingly concerned about cybercriminals because they are committing a number of scams against people, including investment fraud, payment frauds made possible by Aadhaar, and scams involving jobs.
All Is Not Lost
There is a bright side to this situation as well, although police have only resolved 552 cases (4.4%) despite the increase in cases—12,356 were recorded till August 31.
They have so far recovered Rs 111.8 crore, or 8.9%, of the money that was taken.
When discussing the low recovery rate, DH, a senior CID officer, blamed the hackers for making it more difficult to catch them because they are always changing their strategies.
Large-scale investment scams seem to target a number of victims, particularly novice investors.
The investigators prefer to work on instances that involve bigger financial stakes.
However, this strategy largely denies recourse to those who suffered smaller losses.
Critics claim that this strategy is unjust to minor victims.
Besides , the paucity of cybercrime investigators and the relocation of workers to special cases have compounded the issue. , has left many cases unsolved.
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