Cybercrime has become a global crisis and, more certainly, an epidemic infecting and feeding on the easy-money-making minds of people. In 2024 alone, cybercriminals worldwide stole a whopping ₹498 lakh crore. That’s around ₹1.63 crore being lost every single second. Shocking as it is, the situation is only getting worse every second (not minutes, hours, or days). The global damage is expected to rise to ₹514 lakh crore by the end of 2025.
India is facing its top heat. In just six years, the number of cybercrime cases in the country has exploded 42x times from just 3,377 cases in 2019 to 1.42 lakh cases in 2023. India disturbingly ranks third in the world in terms of countries most affected by cybercrimes targeting digital assets.
Who are the prime targets?
Cybercrime is everywhere. Shopping online? Using loan apps? Using investment apps? The minute anyone steps online, they become a target for millions of scams just waiting for them to fall into the trap and say, 'Hello, money.'
Cybercriminals mainly target sectors where people frequently spend or store money. These include:
- Finance (30%)
- Social Media (22%)
- Online Shopping (16%)
- In India, lakhs of people have fallen prey to various scams:
- About 1.97 lakh people faced bank-related fraud.
- 1.65 lakh were tricked through fake loan offers.
- 1.21 lakh were duped by job scams.
- Over 77,000 people lost money in investment frauds.
The financial impact on India
India is losing a massive amount of money to Cybercrime—around ₹42.8 crore every day, ₹9.8 crore every hour, and ₹1.63 lakh every second.
How Do These Scams Work?
The scammers usually follow a step-by-step plan:
- They offer fake online jobs or schemes.
- They ask victims for personal information and small deposits.
- Victims are added to fake groups showing fake profits.
- Victims are lured into investing more.
- Once big money is involved, the scammer disappears.
- The stolen money is routed out of the country using crypto or fake networks.
The fight against Cybercrime
Despite rising cases, 37% of Indian districts still don’t have a cybercrime cell. Fighting these crimes is expensive, too. India spent ₹2.45 lakh crore in 2023 to tackle Cybercrime, and by 2025, that number is expected to rise to ₹18.10 lakh crore. But where's the money going when we only see these crime numbers going up?
With 70% of fraudsters using fake IDs and fraud cases projected to rise by 16.4% in 2025, the need for stronger cyber laws, better infrastructure, and public awareness has never been greater. India needs more than a pre-call warning message (like "Be cautious! Do not share your personal information...") when calling someone on their mobile. We need strict reforms, punishments, and adequate online security so people feel safe connecting with the world online. Let's hope that happens sooner!