Bengalureans lose over ₹1,200 crore to cybercrime in just 8 months: Report

Bengaluru has recorded an alarming 12,356 cybercrimes this year (up to August 31), averaging 1,544 cases per month.

Bengaluru residents have lost a staggering ₹1,242.7 crore to cybercriminals in just the first eight months of 2024, according to data released by the cybercrime department. This figure marks a sharp increase of ₹214.6 crore compared to the total losses over the last three years combined, Deccan Herald reported.

The amount of money stolen by cybercriminals this year surpasses the total taken by cyberfraudsters in 2021, 2022, and 2023 combined. (Representational Image)

As per the report, Bengaluru has recorded an alarming 12,356 cybercrimes this year (up to August 31), averaging 1,544 cases per month. In comparison, the city reported 17,633 cybercrimes in 2023, with an average of 1,470 cases per month.

The amount of money stolen by cybercriminals this year surpasses the total taken by cyberfraudsters in 2021, 2022, and 2023 combined, the report added.

This comes amid growing concerns over cybercriminals targeting individuals through a variety of scams, including investment fraud, Aadhaar-enabled payment frauds, and job-related cons.

Few cases solved

Despite the rise in cases—12,356 reported until August 31—police have solved only 552 (4.4 per cent), and just ₹111.8 crore (8.9 per cent) of the stolen money has been recovered.

As reported by DH, a senior CID officer attributed the low recovery rate to cybercriminals frequently updating their tactics, making it harder to catch them. Many victims, especially new investors, fall prey to large-scale investment scams.

Investigators now focus on cases involving larger sums of money, often leaving those who lost smaller amounts without recourse. Critics argue this approach is unfair to smaller victims.

Additionally, a shortage of cybercrime investigators and the reassignment of personnel to special cases have worsened the issue, leaving many cases unsolved.