Trading frauds topped the list of scams in India- Report Reveals

Trading frauds topped the list of scams in terms of the amount of money lost in India report reveals that. Investment frauds, which resulted in a loss of ₹3,216 crore from more than 1 lakh complaints.

According to the report, since 2021, 30.05 lakh online fraud complaints have been submitted to the Citizen Financial online Fraud Reporting and Management System (CFCFRMS).

A recent study revealed that India incurred a loss of more than ₹11,333 crore due to cyber scams in the first nine months of 2024. The Indian Express, a renowned newspaper in India, used statistics from the Home Ministry's Indian Cyber Crime Coordination Centre (I4C) division and informed. This year, 12 lakh cyber fraud complaints were received. (45%) of the complaints coming from Cambodia, Myanmar, and Laos.

The CFCFRMS has received 30.05 lakh complaints since 2021, resulting in losses of ₹27,914 crore. Of the 30 lakh complaints, 11,31,221 were filed in 2023, 5,14,741 from 2022, and 1,35,242 from 2021.

In October 2024, the Prime Minister of India raised awareness of the dangers of deceiving people by threatening them with 'Digital Arrest.' He urged people to use the PAUSE, THINK, and ACTION formula and to report cybercrime to authorities on toll-free number 1930 or https://cybercrime.gov.in.

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