India recorded a five-fold increase in cyber crimes between 2018 and 2021. This year too has seen a sharp rise in cases of phishing, financial fraud, mail spam and ransomware attacks. Social engineering crimes, which form a major chunk of cyber crime, are the unfortunate fallout of the digitisation of all financial Services in the country.
The easy availability of SIM cards with fake documents, helps fraudsters use impersonated and anonymous credentials for fraud. Lack of effective physical verification and the large number of syndicates selling SIM cards, databases of citizens, mobile numbers, emails, credit and debit cards and shopping HISTORY landing in their lap are some crucial factors aiding fraudsters.
In , theTelangana Cyber Crime Coordination Centre(T4C), established in 2021, has a 24×7 call centre to help victims of cyber fraud and coordinate with district Police in the registration, investigation and detection of cyber crime cases. T4C has been successful in preventing almost 30 crore of public Money from being lost to cyber fraudsters.