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Bengaluru has witnessed an alarming rise in cybercrime losses, with residents losing ₹1,800 crore in 2024 as of November 30. Despite a slight drop in reported cases compared to 2023, financial losses surged by 168%, equating to ₹5.4 crore lost daily to cyber frauds.
In 2024, the city registered 16,357 cybercrime cases by November-end, averaging 48 incidents per day. Last year, Bengaluru recorded 17,632 cases.
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The Bengaluru police have managed to freeze ₹611 crore in fraudulent accounts and recover ₹122 crore, the highest recovery in the city's history of combating cybercrime. However, the challenge remains immense, with the city inching closer to matching last year’s record-high case numbers.
Police officials attribute the rising losses to sophisticated fraud schemes exploiting fear and greed, including scams promising unrealistic returns from investments. While awareness campaigns have been intensified, the scale and impact of cybercrime highlight the urgent need for stronger preventive measures.
Bengaluru’s experience serves as a stark reminder of the growing cyber threat landscape, as technology and digital transactions increasingly dominate daily life. The city continues to grapple with the dual challenges of protecting residents and recovering stolen funds in this escalating battle against cybercriminals.