Govt says cyber fraud cases jumped over four-fold in FY24, caused $20 million losses

March 11, 2025

, By The Economic Times

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High value ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/cyber-fraud-cases-in-india” target=”_blank”>cyber fraud cases in India jumped more than four times in fiscal 2024 causing losses of $20 million, official data showed, underscoring rising risks in a country with hundreds of millions of digital financial transactions everyday.

Affordable data packs in the world’s most populous country, starting as low as 11 rupees ($0.13) per hour, have increased internet access and created a $1 trillion mobile payments market for firms such as rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Paytm, Google Pay and Walmart-backed PhonePe.

But cyber literacy has lagged, leaving people vulnerable to…

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Govt says cyber fraud cases jumped over four-fold in FY24, caused $20 million losses

March 11, 2025

, Published By The Economic Times

High value ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/cyber-fraud-cases-in-india” target=”_blank”>cyber fraud cases in India jumped more than four times in fiscal 2024 causing losses of $20 million, official data showed, underscoring rising risks in a country with hundreds of millions of digital financial transactions everyday.

Affordable data packs in the world’s most populous country, starting as low as 11 rupees ($0.13) per hour, have increased internet access and created a $1 trillion mobile payments market for firms such as rel=”dofollow” href=”https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Paytm, Google Pay and Walmart-backed PhonePe.

But cyber literacy has lagged, leaving people vulnerable to…

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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