There has been a significant increase in cybercrime incidents in India recently, and the government of India has responded by launching the e-Zero FIR facility, a landmark initiative that will strengthen the nation’s cybersecurity framework and expedite the investigation of digital financial frauds. It was part of a broader effort to strengthen cyber vigilance, increase the responsiveness of law enforcement, and ensure citizens were protected from cyber crimes on an ever-escalating scale.
Several recent reports highlighting the growing scale of cybercrime in India highlight the urgency of such a measure. It is estimated that over 7,4 lakh cybercrime complaints were filed in the National Cyber Crime Reporting Portal (NCRP) between January and April 2024 alone, according to official figures. It has been estimated that these incidents resulted in financial losses exceeding 1,750 crores, reflecting the increasing sophistication and frequency of digital frauds across the world.
Further, according to the Indian Cyber Crime Coordination Centre (I4C), in May 2024, authorities received an average of 7,000 complaints regarding cybercrime per day, which indicates a troubling pattern that is persisting and persisting. A study by the International Center for Research on Cyberfrauds has estimated that if preventive measures are not taken to stop cyberfrauds in the future, a loss of $1.2 lakh crore could result, in the future.