"Karnataka Battles Cybercrime Surge: Over Rs 65 Crore Stolen in 2023 Q1, Police Foil Rs 17 Crore Cyber Heist"
Karnataka has been grappling with a distressing rise in cybercrime during the first half of 2023, with a staggering amount of over Rs 65 crore stolen by cybercriminals. However, swift police action and prompt complaints by victims have resulted in preventing around Rs 17 crore (26 per cent) from falling into the hands of cyber thieves.
In the preceding year, cyber thieves had managed to dupe victims of Rs 76.9 crore, but the police successfully thwarted Rs 14.7 crore from reaching these criminals by freezing their bank accounts and e-wallets.
The victims played a crucial role in the fight against cybercrime by registering complaints through the police control (112) or the national helpline (1930). As soon as the victim calls 112 or 1930, Cyber Information Reports (CIRs) are registered, and immediate steps are taken to freeze the illicitly obtained funds in the accounts of the accused.
One victim shared his harrowing ordeal, recounting how he received a call from an unknown miscreant in the early hours, requesting an OTP for a loan approval, which he had applied for previously. Unaware of the trap, he provided the OTP, only to wake up to a loss of Rs 1.44 lakh from his account. The miscreant had withdrawn Rs 12,000 each for 12 transactions. Although the police managed to retrieve 50% of the stolen amount through a reverse hack, the remaining funds were irrecoverable.
Since the inception of CIRs, there have been 12,850 complaints of cybercrime, out of which 11,719 have been resolved. The focus has been on retrieving the stolen money and returning it to the victims, rather than solely chasing cyber fraudsters.
Between January 1 and June 30, 2023, Rs 65 lakh has been successfully returned to the victims who acted promptly and lodged CIRs immediately after the incidents occurred.
Once the police seize funds from the bank accounts of cyber fraudsters, they file a case in a local court. After obtaining the court's permission, the recovered money is returned to the victims through proper procedures.
The rise of cybercrime in Karnataka is evident from the reported 4,090 cases in the first six months of 2023, with a staggering cheated amount of Rs 65.1 crore. However, authorities managed to recover Rs 16.4 crore and refund Rs 65 lakh to the victims. The previous year, 2022, saw 8,760 reported cases of cyber fraud, amounting to Rs 76.9 crore cheated. The authorities managed to recover Rs 14.7 crore, while the refund to victims was Rs 1.9 crore. In the cumulative period of 18 months, from January 2022 to June 2023, the total reported cases reached 12,850, with an alarming cheated amount of Rs 142 crore. During this time, Rs 31.1 crore was successfully recovered, and a refund of Rs 2.6 crore was made to the victims.
Bengaluru City has witnessed the conviction of 25 cyber fraudsters in the last five years, serving as a testament to the efforts to combat cybercrime. To combat cyber fraud effectively, victims are urged to file complaints through CIRs within two hours of the incident. Victims must call 112 or 1930 during this crucial "Golden Hour," after which it becomes challenging to trace the bank accounts and freeze the illicit funds.
Karnataka authorities continue their relentless fight against cybercrime, emphasizing the importance of timely action and public awareness in tackling this growing threat.
Read More Latest Business News only on Republic World
Republic World is a dynamic and most trusted source of news and information, founded by journalist and entrepreneur Arnab Goswami. We cater live and in-depth coverage of comprehensive news headlines and articles, covering a wide range of topics including India news, entertainment news, sports news and much more. Republic World features breaking news in India, current news headlines, India news live and today's India News.