India lost Rs 22,842 crore to cybercriminals and fraudsters in 2024, DataLEADS, a Delhi-based media and tech company, said in its report on widespread digital financial frauds in the country. The amount stolen by digital criminals and fraudsters last year was nearly three times more than the Rs 7,465 crore in 2023 and almost 10 times more than the Rs 2,306 in 2022, DataLEADS said in ‘Contours of Cybercrime: Persistent and Emerging Risk of Online Financial Frauds and Deepfakes in India.

Prediction For Cyber-Crime Frauds

The Indian Cybercrime Coordination Centre, I4C, a federal agency that liaises between state and central law enforcement, predicts Indians will lose over Rs 1.2 lakh crore this year. The number of cybercrime complaints has spiked similarly; nearly twenty lakh were reported in 2024, up from around 15.6 lakh the year before and ten times more than were logged in 2019.

The surge in the number of cybercrime complaints and the volume of money lost points to one inescapable conclusion – India’s digital crooks are getting smarter and more efficient, and, in a country with a staggering nearly 290 lakh unemployed people, their ranks are increasing.

Bank-related frauds have increased dramatically; the Reserve Bank of India reported a nearly eightfold jump in the first half of FY 2025/26 compared to the same period last year. And the amount of money lost was staggering – Rs 2,623 crore to Rs 21,367 crore. Private sector banks accounted for nearly 60 per cent of all such incidents. But it was customers in public sector banks who were worst-hit; they lost Rs 25,667 crore in all.

Why have these numbers jumped so much over the past three years?

Because of the increased use of digital payment modes – i.e., smartphone-enabled services like Paytm and PhonePe – and the sharing and processing of financial details online – via (what many believe are encrypted and fail-safe) messaging platforms like WhatsApp and Telegram.

Federal data says there were over 190 lakh UPI, or unified payment interface, transactions in June 2025 alone, and these were worth a combined Rs 24.03 lakh crore. Digital payments’ value has grown from roughly Rs 162 crore in 2013 to Rs 18,120.82 crore in January 2025, and India accounts for nearly half of all such payments worldwide.

COVID-19

Much of this increase can be attributed to the pandemic and the subsequent lockdowns.

During COVID-19, the government pushed for a switch to UPI apps like Paytm to ensure social distancing and minimise contact with currency notes, via which the virus could be transmitted.

Digital Payment Tools In Rural Areas

The government also reasoned that digital payment tools would ensure greater penetration of financial services, particularly in rural areas. By 2019, India already had 440 million smartphone users and data rates were among the cheapest in the world – 1 GB cost Rs 200, or less than $3.

Insurance sector scams were also common. These included life, health, vehicle, and general, and are becoming an increasingly lucrative option for cybercriminals, particularly as insurance companies urge customers to opt for app-based services.

Bengaluru: A sweeper, turned outsourced office assistant at the Karnataka Rural Infrastructure Development Corporation (KRIDL) in Koppal district has been the owner of properties worth over Rs 100 crore.

The shocking revelation came after the Karnataka Lokayukta raided the KRIDL office in Koppal, following a complaint against the Chief Executive Engineer Z M Chincholikar that there has been misappropriation of funds to the tune of Rs 72 crore in the works taken up between 2022 – 2024.

However, during the raid, the Lokayukta police grew suspicious over the office assistant Kalakappa Nidagundi of Bandi village in neighbouring Yalaburga taluk. Both Chincholikar and Nidagundi were immediately suspended and the search operations continued. However, Chincholikar managed to obtain a stay from the KAT and has been transferred to Davanagere.

During the search operations, the Lokayukta police stumbled on interesting facts about Kalakappa Nidagundi. He started his career as a sweeper in the KRIDL office, Koppal. Later in 2003, he was registered as an outsourced employee and made the office assistant. Since then, he has been the office assistant of the Koppal division.

While investigating the Rs 72 crore misappropriation in 108 works taken up by KRIDL  during 2022-2024, the Lokayukta police realised that Kalakappa Nidagundi was the mastermind of the scam. The Lokayukta police decided to go after the property he had amassed and were shocked to see that he was owning two luxurious cars, along with other properties, which is worth over Rs 100 crore.

According to Lokayukta police, Nidagundi has 24 houses in Koppal and Bhagya Nagar near Bagalakot. He has over 40 acres of farmland in the name of his wife, brother and brother-in-law. Besides, he owns over 50 housing plots in places like Bandi, Hitnal, Huligi and Yalaburga. The Lokayukta police have seized two cars, two bikes, 350 gms of gold and 1.5 kg silver from his house, which were unaccounted for.

New Delhi: Congress MP Priyanka Gandhi Vadra on Tuesday criticised Union Home Minister Amit Shah over his remarks referencing her mother, Sonia Gandhi’s tears, stating that her mother wept when her father, former Prime Minister Rajiv Gandhi, was killed by terrorists, and that she understands the pain of the Pahalgam terror victims.

Addressing the Lok Sabha during the discussion on Operation Sindoor, Priyanka Gandhi said, “Union Home Minister spoke about my mother’s tears today. I want to answer this. My mother’s tears fell when terrorists killed my father. Today, when I talk about those 26 people (victims of the Pahalgam attack), it is because I understand their pain.”

Her remarks came after Union Minister Shah said that Sonia Gandhi was “sobbing” at the Batla House incident.

“I remember one morning during breakfast, I saw Salman Khurshid crying on the TV. He was coming out of Sonia Gandhi’s residence… He said that Sonia Gandhi was sobbing at the Batla House incident. She should have cried for Shaheed Mohan Sharma instead of the terrorists of the Batla house…” Shah had said.

Further questioning the Union Home Minister over the ceasefire, Priyanka Gandhi said, “The Union Home Minister today spoke about what Nehru and Indira Gandhi did. He even went on to talk about my mother’s tears. But he never answered why the ceasefire was announced…”

Furthermore, Congress leader Vadra accused the government of “escaping” the questions and having “no sense” of accountability towards the citizens of the nation.

“This government always tries to escape the questions…They have no sense of accountability towards the citizens of the nation. The truth is that they have no place for the public in their heart. For them, everything is politics, publicity…” she said.

“Most of the people who are sitting in this House today have a security cover…But on that day in Pahalgam, 26 people were killed in front of their families. All those people who were present in Baisaran Valley on that day did not have any security. No matter how many operations you conduct, you cannot hide behind the truth…” she stated.