Over 10.7 million investors duped of ₹3.18 lakh crore in Maha over 10 years: State govt

Maharashtra's Home Dept revealed over 10.7 million investors lost ₹3.18 lakh crore to fraud in a decade, with rising cybercrime cases alarming officials.

MUMBAI: In a startling disclosure during the ongoing monsoon session of the Maharashtra Legislature, the state Home Department, led by chief minister Devendra Fadnavis, revealed that over 10.7 million investors across Maharashtra were defrauded of a staggering ₹3.18 lakh crore over the last decade.

Over 10.7 million investors duped of ₹3.18 lakh crore in Maha over 10 years: State govt

The figures were part of a written response to Congress MLC Satej Patil, who raised concerns about the alarming rise in economic and digital frauds across the state.

Citing data from the Economic Offences Wing (EOW), the Home Department stated that 271,000 investors in Mumbai alone lost ₹2.95 lakh crore to fraudulent investment schemes between 2014 and 2024. In the rest of Maharashtra, 10.5 million investors were cheated of ₹22,552 crore during the same period.

The reply also flagged the growing threat of cyber fraud. Between 2016 and May 2025, the state registered 46,321 cybercrime cases related to financial frauds, with total reported losses of ₹11,033.97 crore.

In the calendar year 2024 alone, the Maharashtra National Cyber Crime Reporting Portal received 58,157 complaints of financial fraud amounting to ₹1,186.46 crore. Of these, 31,583 complaints were from Mumbai, 13,971 from Pune, and 12,582 from Thane.

The Home Department’s reply also highlighted the government’s emphasis on awareness and prevention. “The state is conducting a range of outreach programmes targeting the general public, students, educators, and administrative officials. Social media is also being leveraged to educate citizens and investors about financial and digital frauds,” the statement said.