India’s digital transformation has advanced rapidly over the past decade. With more than 86% of households now online, the Digital India initiative has helped connect citizens, businesses, and services like never before. However, this growing connectivity has also exposed millions to rising cybersecurity risks and financial fraud.
According to official government data, reported cybersecurity incidents have more than doubled, from 10.29 lakh in 2022 to 22.68 lakh in 2024. Experts say this rise not only reflects a more complex threat environment but also improved mechanisms for tracking and reporting attacks.
By February 2025, complaints worth ₹36.45 lakh in total had been filed on the National Cyber Crime Reporting Portal (NCRP), revealing the scale of digital financial fraud in the country.
The Changing Face of Cyber Frauds
Cybercriminals are constantly evolving their methods. Traditional scams like phishing and spoofing where fraudsters pretend to represent banks or companies are now being replaced by more advanced schemes. Some use artificial intelligence to generate convincing fake voices or videos, making deception harder to detect.
A major area of exploitation involves India’s popular Unified Payments Interface (UPI). Attackers have been using compromised mobile numbers to steal funds. In response, the Department of Telecommunications introduced the Financial Fraud R
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