Cyber scams soar by 158% in 2024, Rs 452 cr stolen from accounts: Delhi Police

The amount stolen by scammers from people's accounts has surged by 158% this year compared to last, with Delhi Police data showing that victims lost Rs 452 crore to online cyber scams by June, up from Rs 175 crore during the same period in 2023.

Investigators disclosed that criminals are using more advanced methods to avoid detection and launder stolen funds. A prevalent tactic involves spreading the stolen money across multiple digital wallets, complicating efforts by law enforcement to trace the funds' origin. This swift distribution prevents authorities from targeting the original account from which the money was transferred.

To further complicate matters, the criminals often withdraw the funds through multiple ATMs, further obscuring the money trail. Additionally, they exploit the bank accounts of vulnerable individuals, such as those living in poverty or with limi ted financial literacy. By offering small sums of money, they acquire access to these accounts and use them as conduits for transferring the stolen funds. “Even if the investigators follow the money trail and reach the account holder, they will never get to know who the real mastermind of the scam is. The person who allowed the use of his or her bank account get arrested,” one investigator said.

Another officer said, “The fraudsters also transfer funds to their overseas associates by converting the stolen money into cryptocurrency or purchasing gift cards.” This method allows them to move funds across borders and circumvent traditional banking systems.

A senior officer said that during various investigations, police found that the scammers adopt different modus operandi to obtain bank accounts. “They approach villagers who live in remote areas and are illiterate.

Citing the names of various benefit schemes, they ask such villagers to open bank accounts, promising them financial benefits. As soon as the accounts are opened, the scammers obtain the account details by offering them small amounts of money. These details are then sold to other scammers, both domestic and international,” the officer revealed.

The city has witnessed a surge in cybercrime cases, with a wide range of illicit activities being reported, according to police data. There was a 11% increase in cyber complaints filed this year over the complaints last year — 61,525 complaints received till June this year. In 2023, from Jan to June, the National Cyber Complaint Portal recorded a staggering 55,267 complaints, highlighting the pervasive nature of cyber threats.

These cases encompass a broad spectrum of digital offenses, including digital extortion, investment fraud, cryptocurrency scams, cyberterrorism, hacking, phishing, identity theft, and various other malicious activities. Police have noted that the perpetrators of these crimes are becoming increasingly sophisticated, using advanced tactics and technologies to target unsuspecting victims and exploit vulnerabilities in digital systems.

The cops said that victims of fraud should immediately contact cyber helpline Number 1930, report the incident to National Cybercrime Reporting Portal or visit their local cyber police station. “The swift action of victims in reporting the fraud on cyber helpline 1930 can result in the timely freezing of the cheated amount,” an officer said.

(With TOI inputs)