1. RBI Governor Warns of Rising Digital Frauds

• Date: February 7, 2025
• Location: Mumbai, Maharashtra
• Summary: Reserve Bank of India Governor Sanjay Malhotra cautioned lenders about the increasing instances of fraud in digital payments. To combat these fraudulent practices, the RBI plans to introduce secure website domain names, such as ‘bank.in’ for banks and ‘fin.in’ for non-bank financial entities, with registrations commencing in April 2025.
• Modus Operandi:
  • Fraudsters create fake banking websites that resemble legitimate ones and trick users into entering their login credentials.
  • Scammers send phishing emails and SMS messages pretending to be from banks, asking for sensitive information.
  • UPI scams involve QR codes that secretly deduct money when scanned.
  • Fake customer care numbers are listed online to mislead victims into calling fraudsters who then extract financial information.

Preventive Measures

✅ Always check for “https://” in website URLs and verify official domains like “.gov.in” or “.bank.in”.
✅ Avoid clicking on links from unknown sources and do not share banking credentials over phone calls.
✅ Use two-factor authentication (2FA) for all banking transactions.
✅ Report suspicious transactions immediately to your bank and the National Cyber Crime

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2. Delhi Reports 158% Surge in Cyber Scams

• Date: December 3, 2024
• Location: New Delhi

Summary: Delhi Police reported a 158% increase in cyber scams in 2024, with losses amounting to ₹452 crore by June, up from ₹175 crore during the same period in 2023. Fraudsters employed advanced techniques, such as dispersing stolen funds across multiple digital wallets and withdrawing money through various ATMs, making it challenging to trace.

• Modus Operandi:
  • Call center scams: Scammers impersonate bank officials and request OTPs for KYC updates.
  • Investment fraud: Victims are lured into fake schemes through social media advertisements.
  • Instant loan fraud: Fake mobile apps promise quick loans but demand processing fees upfront and steal personal data.
  • Fraudsters use mule accounts to launder stolen money, making it difficult to track.

Preventive Measures

✅ Do not share OTPs or banking passwords over the phone. Banks never ask for such details.
✅ Verify investment schemes with SEBI-registered advisors before investing.
✅ Avoid downloading loan or trading apps from unverified sources.
✅ If scammed, immediately call 1930 (Cybercrime Helpline) or report on www.cybercrime.gov.in.

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3. Bengaluru Police Uncover ₹854 Crore Cyber Investment Fraud

• Date: September 30, 2024
• Location: Bengaluru, Karnataka

Summary: The Bengaluru Police arrested six individuals involved in a cyber fraud scheme that deceived thousands across India under the guise of an investment plan. The accused lured victims through WhatsApp and Telegram, promising high returns on investments ranging from ₹1,000 to ₹10,000. The total amount defrauded was ₹854 crore, with ₹5 crore frozen by authorities.

• Modus Operandi:
  • Fraudsters set up Ponzi schemes that promised high returns through cryptocurrency and stock trading.
  • Victims were added to WhatsApp and Telegram groups with fake success stories.
  • Scammers initially paid small profits to gain trust, then disappeared after collecting larger investments.
  • The money was transferred to shell companies and laundered through international cryptocurrency exchanges.

Preventive Measures

✅ Avoid investment offers that guarantee “quick and high returns”. Legitimate investments always carry some risk.
✅ Check whether a financial entity is registered with SEBI or RBI before investing.
✅ Be wary of WhatsApp or Telegram groups promoting “easy earnings”.
✅ Report investment frauds to SEBI’s SCORES portal (www.scores.gov.in) and the cybercrime helpline.

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4. Tamil Nadu Residents Lose Over ₹1,100 Crore to Cyber Fraud

• Date: October 11, 2024
• Location: Chennai, Tamil Nadu

Summary: Between January and September 2024, victims in Tamil Nadu suffered losses totaling ₹1,116 crore due to cyber financial frauds. The state’s cyber crime wing emphasized the importance of early reporting to enhance the chances of recovering lost funds.

• Modus Operandi:
  • Job frauds: Fake job portals charge registration fees and promise placements in top companies.
  • Online trading scams: Victims are encouraged to invest in stocks or forex with fake trading platforms.
  • Remote access scams: Scammers convince users to install apps like AnyDesk or TeamViewer, gaining control over their devices.
  • OTP frauds: Fraudsters claim to be from banks and request OTPs to “verify accounts” but use them to withdraw money.

Preventive Measures

✅ Use trusted job portals like Naukri, LinkedIn, and government job websites. Avoid paying fees for job placements.
✅ Do not install remote access apps unless explicitly required by verified technical support.
✅ Never share OTPs or card details over phone calls or messages.
✅ Report fake job or trading scams to the Ministry of Labour and Employment or SEBI.

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5. Hyderabad Reports Over ₹380 Crore Lost to Cyber Fraud in 2024

• Date: December 23, 2024
• Location: Hyderabad, Telangana

Summary: Hyderabad experienced a significant loss of over ₹380 crore to various cybercrimes in 2024, with digital arrest and trading frauds being the most prevalent. Authorities highlighted vulnerabilities in the banking system and noted that many victims refrained from reporting due to social stigma.

• Modus Operandi:
  • Trading frauds: Fake stock trading apps show false profits to lure victims into depositing more money.
  • Romance scams: Scammers pose as professionals or wealthy foreigners, building emotional connections before requesting financial help.
  • Fake police or CBI calls: Victims receive calls claiming they are under investigation and must pay a “fine” to avoid arrest.
  • E-commerce frauds: Fake online stores sell products that never get delivered.

Preventive Measures

✅ Use official stock trading platforms registered with SEBI. Avoid offers from unknown sources.
✅ Do a reverse image search on Google if someone you meet online asks for money.
✅ If you receive a call from someone claiming to be law enforcement, verify by visiting the nearest police station.
✅ Always shop on trusted e-commerce platforms like Amazon, Flipkart, and Tata Cliq.

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How to Report Cybercrime in India

📞 Cybercrime Helpline: Dial 1930 (Available 24/7)
🌐 Report Online: www.cybercrime.gov.in
🏦 Bank Fraud: Contact your bank’s customer care and RBI Ombudsman at www.rbi.org.in
📩 Fake Trading/Investment Scams: Report to SEBI via www.scores.gov.in