Digital Deception: Mumbai Loses Rs 1,200 Crore to Cyber Crime in 2024, a Staggering 350% Surge

Mumbai: Mumbai has witnessed an alarming surge in cyber crime, with citizens losing a jaw-dropping Rs 1,181 crore in just 11 months of 2024. This marks a 350% increase compared to 2023, highlighting the rising menace of digital fraud in India’s financial hub. The city has reported over 77,000 complaints to the national 1930 helpline, representing 8% of the country’s total cases, despite its relatively small population.

Among the various cyber crimes, investment fraud and task job scams have spiked significantly. Share trading frauds alone skyrocketed from Rs 7.76 crore in 2023 to Rs 191 crore by June 2024. Task job scams, especially those exploiting “work-from-home” opportunities, accounted for Rs 36.89 crore in losses within the same timeframe. Cyber gangs often operate from states like Rajasthan and West Bengal and even from international locations, including Cambodia and Indonesia, using sophisticated methods like internet-based calls and mule bank accounts.

Despite efforts by the Mumbai Police, the recovery rate of stolen funds remains abysmal. Only Rs 139.15 crore—just 11.77% of the total lost amount—was retrieved in 2024. Delayed reporting, cross-border operations, and the use of hawala networks to transfer stolen money further complicate recovery efforts.

Authorities and experts stress the importance of immediate reporting to the 1930 helpline to improve recovery chances. Cyber officials also warn citizens against common scams like KYC updates, power bill non-payments, and UPI frauds. Former DGP D. Sivanandhan and other experts emphasize the need for education, vigilance, and stricter cyber laws to curb this escalating threat.

As Mumbai races toward becoming a digitally empowered city, awareness and caution are the most powerful tools for protecting its citizens from cyber predators.

Stay Aware. Think Before You Click. Report Fraud Immediately.