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Home » Cyber Security News » Rs 380 crore to cyber fraud in 2024 – ET CISO

Rs 380 crore to cyber fraud in 2024 – ET CISO

Rs 380 crore to cyber fraud in 2024 – ET CISO

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The city has witnessed a staggering loss of over Rs 385 crore to various cybercrimes in 2024, with digital arrest and trading frauds topping the list.

These figures reflect only the cases reported to the police or the National Cybercrime Portal, while many victims remain silent due to fears of reputational damage and social stigma. “A doctor friend of mine lost Rs 15 lakh in a digital arrest scam but was unwilling to report it. People are prioritising their prestige in society over the money lost in such frauds,” said Hyderabad commissioner of police CV Anand during the annual roundup on Sunday.

Anand highlighted the role of the banking system in facilitating cybercrimes, revealing that criminals often exploit banks to carry out fraudulent activities. “It’s challenging for an average person to open a current account, but it’s relatively easy for cybercriminals to do so without proper verification. Bank officials’ complicity with these criminals is a major issue, and in 2025, we will focus on addressing their role,” he said.

“Additionally, the labour department is also issuing licenses easily to establishments as part of ease of doing business policy. We are working to fix it,” he added.

The city’s overall crime rate surged by over 40% in 2024, from 25,488 cases in 2023 to 35,944 in 2024. “This increase is due to a policy of registering FIRs for even minor incidents like simple thefts or injuries and investigating them,” Anand explained.

While addressing the media, Anand praised the Hyderabad police force for their dedication and the smooth management of events, including the Lok Sabha election. He also acknowledged citizens for their cooperation, especially in voluntarily refraining from using DJs during religious processions.

Hyderabad police are now exploring drone technology to enhance traffic management and law enforcement. “We plan to procure drones and establish a dedicated maintenance wing to deploy and manage them in the city,” Anand announced.

Operation ROPE, aimed at clearing road encroachments and reducing congestion, has shown positive results, with road accidents and fatalities decreasing. “Thanks to the traffic wing’s efforts, road accidents and related deaths have significantly reduced,” said Anand.

In a ground breaking move, Hyderabad police have inducted 44 trans persons as home guards to assist with traffic duties. This initiative aims to promote social integration for the trans community. “This is a revolutionary step in providing them an opportunity to contribute to society,” said Anand. He urged the newly inducted personnel to perform their duties with sincerity, emphasising that their roles could be expanded based on performance.

Hyderabad police will soon begin dynamic drunk driving checks near bars and pubs to curb inebriated driving, with signs warning drivers. Drunk drivers are predominantly on two-wheelers (87%), followed by cars (10%) and auto rickshaws (5%), said additional CP (traffic) P Viswa Prasad. In addition to suspending licences for drunk driving, officials will also target those caught for signal jumping, triple riding, and wrong-side driving.

  • Published On Dec 24, 2024 at 10:19 AM IST

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