India’s rapid shift to digital platforms has made everyday life easier, from quick bank transfers to cashless shopping. But this digital leap has also opened the gates to online scams, with cybercriminals exploiting the growing number of users and transactions.
A new report by the Future Crime Research Foundation (FCRF) revealed that a whopping 77.4% of cybercrimes reported in India between 2020 and 2023 were financially motivated. The scale and sophistication of these crimes highlight the need for urgent action.
Why are online scams on the rise?
Several factors are fuelling this surge. The widespread use of online banking, UPI, and e-wallets means more people are now potential targets. Meanwhile, a lack of awareness, especially in rural and semi-urban areas, leaves many users vulnerable. Scammers are also evolving, using advanced tactics like social engineering and malware to bypass even robust security measures.
The cost of a click
Falling victim to an online scam can have devastating consequences. Fraudsters often lure people into giving away sensitive bank details or approving unauthorised transactions, leading to direct financial losses. In more serious cases, stolen information is used for identity theft to open fake accounts or take loans. Data breaches can also leave personal information floating on the dark web, ready to be misused repeatedly.
Protecting yourself: Seven essential steps
Be wary of unsolicited messages: Never click links or share personal info without verifying the source.
Verify sender details: Check sender details carefully to spot fake emails or messages.
Use secure websites: Look for “https://” and a padlock icon, when entering sensitive data.
Strong passwords: Create strong, unique passwords and enable multi-factor authentication where possible.
Don't fall for unrealistic promises: Avoid "get-rich-quick" schemes, if it sounds too good to be true, it probably is a scam.
Stay informed: Educate yourself about the latest scams and teach others, especially those less tech-savvy.
Flagging suspicious activity: Report suspicious activity to authorities or relevant platforms immediately.
What authorities can do
There’s also a growing need for stronger institutional measures. Public education campaigns can help spread awareness, especially in digital-first but security-last environments. Tougher data protection regulations for online businesses and financial platforms are vital, while law enforcement collaboration, including international cooperation, will be key to tackling cross-border cybercrime networks.
A new report by the Future Crime Research Foundation (FCRF) revealed that a whopping 77.4% of cybercrimes reported in India between 2020 and 2023 were financially motivated. The scale and sophistication of these crimes highlight the need for urgent action.
Why are online scams on the rise?
Several factors are fuelling this surge. The widespread use of online banking, UPI, and e-wallets means more people are now potential targets. Meanwhile, a lack of awareness, especially in rural and semi-urban areas, leaves many users vulnerable. Scammers are also evolving, using advanced tactics like social engineering and malware to bypass even robust security measures.
The cost of a click
Falling victim to an online scam can have devastating consequences. Fraudsters often lure people into giving away sensitive bank details or approving unauthorised transactions, leading to direct financial losses. In more serious cases, stolen information is used for identity theft to open fake accounts or take loans. Data breaches can also leave personal information floating on the dark web, ready to be misused repeatedly.
Protecting yourself: Seven essential steps
There’s also a growing need for stronger institutional measures. Public education campaigns can help spread awareness, especially in digital-first but security-last environments. Tougher data protection regulations for online businesses and financial platforms are vital, while law enforcement collaboration, including international cooperation, will be key to tackling cross-border cybercrime networks.
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