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Cyber criminals cheating more than ₹ 514 lakh crore every year.
Internet and technology are making life easier, but cyber thugs have made it a dreadful place. In 2024, there was a cyber fraud of more than ₹ 498 lakh crore in the world. That is, every second was ₹ 1.63 crore.
India received more than 9.2 lakh complaints in 2023, which caused ₹ 6 thousand crore. According to the report of the Ministry of Home Affairs, cyber fraud increased by 42 times in 6 years. It has become not only technical, but also an economic and legal challenge.
Money mule, cryptocurrency and hawala network are being used for laundering the amount of fraud. Governments are spending billions of rupees on cyber security.
The Cyber Crime Coordination Center of India has feared cheating of more than ₹ 1.2 lakh crore from Indians in 2025. This is equal to 50% of the budget of Bihar.
Global Trend: Cyber criminals cheating more than 514 lakh crore rupees every year Cyber crime is also a threat to the economy. In 2024, there has been a loss of Rs 498 lakh crore in the world due to cybercrime. How serious it is can understand it in this way.
Source-I4C and Cloudsake Report |
Let’s understand this whole game of cheating and money laundering …
- Global Trail: The amount of cheating is taken out of the country through money mules, cryptocurrency and hawala. The Hueon Group of Cambodia is notorious for this. USDT Crypto in India does such works. In these, the middlemen help the scammer, which is called a matchmaker. Their money mules are spread all over the world. Money mule is a person or fake company, who makes money through bank accounts or crypto. If the scammer cheats 1 lakh rupees, then the process goes on …
This process hinges on 3 things 1. fake documents
2. Corrupt banking system
3. Crypto’s oblivion
6 stages to take the cheating amount outside the country
- Stage 1: The scammer deal with the matchmaker. The matchmaker for scams in a big country holds 15% of the amount for itself and the mules.
- Stage 2: The matchmaker finds the correct money mules and finalizes the deal.
- Stage 3: The matchmaker informs the scammer about the mule’s bank account or the crypto wallet. Scammer sends this information to the victim.
- Stage 4: The victim came under the deception of the scammer Rs 1 lakh. Money sends the mule.
- Stage 5: May sends this money to many accounts one by one. Its big chain is made. Then it sends out of the country’s boundary to cryptocurrency.
- Stage 6: When the money reaches the willing country, the mule sends the money to the matchmaker. The matchmaker pays the remaining amount to the scammer. These trail investigative agencies are unable to catch.
Fighting with cyber thugs expensive, 37% districts of the country do not even have cyber cells The fight with cyber thugs is getting expensive. Governments have to invest big on resources and man power. Initiatives like I4C and National Cyber Crime Reporting Portal have started in India.
- In India, in 2024, 24 thousand officers have been trained to deal with cyber crime. 33 states have cyber forensic labs. However, 37% of the districts do not yet have cybercrime cells.
- 28 thousand crore India is also estimated to be spent on cyber security this year
- 18.10 lakh crore is estimated to spend cyber security in the world in 2025
- 2.45 lakh crore is the cost of global anti -money laundering, which is estimated to increase to 4.41 lakh crores by 2028.
- 70% of global expenses are expected to be in the US and Western Europe.
- 16.4% billion will increase India’s spending on cyber security compared to 2024.
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Read this news related to cyber fraud too …
Digital house arrest cybercrime in the country increased: 65 thousand cases have been reported in the last 10 years, scam of Rs 4.69 lakh crore
Cybercrime is increasing rapidly in the country. New ways are being discovered to target people. A new method for fraud is being used a lot of digital house arrest. A report by the Reserve Bank has revealed that during 2023, there was a fraud of more than 30 thousand crore rupees in the country. Read full news …
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