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Cyber fraud losses have surged 10-fold in a decade, says Finmin
Hindustan Times Patna
|March 11, 2025
Losses due to cyber frauds have surged nearly 10-fold in a decade, Pankaj Chaudhary, minister of state in the finance ministry, said on Monday.
NEW DELHI:
Responding to a question in the Lok Sabha, Chaudhary said losses due to cyber frauds increased to ₹177.05 crore in 2023-24 from ₹18.46 crore in 2014-15. In the first nine months of FY25 (April-December 2024), losses due to cyber frauds stood at ₹107.21 crore.
The number of cyber frauds involving ₹1 lakh or more surged to 29,082 in FY24 from 815 in FY15, he added. In the first nine months of FY25, this number stood at 13,384.
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