Fraud worth crores, expenditure of crores and still inadequate recovery; Cyber ​​crime becomes the biggest challenge of the digital era*

In this era of Digital India, where technology has made people’s lives easier, cyber criminals have also made this technology the biggest weapon for their illegal business. The increasing use of online banking, digital payments, UPI, social media and e-commerce platforms has increased the facilities of common citizens, but along with this, there is also an explosive growth in the cases of cyber fraud. Recent figures from Rajasthan highlight the seriousness of this threat. According to the annual report of the Reserve Bank of India and the data of the National Cyber ​​Crime Portal, in the last one year, more than 77 thousand people in Rajasthan became victims of cyber fraud and the fraudsters grabbed an amount of about Rs 354 crore. The worrying thing is that only Rs 39 crore has been recovered from this huge fraud, whereas the annual expenditure of the state government on cyber security and operation of cyber police stations is more than Rs 102 crore.

This situation is not limited to Rajasthan only. Cyber ​​crimes are increasing rapidly in almost all the states of the country. The methods of cyber criminals have evolved faster than the penetration of the Internet and smartphones has increased. Today, instead of committing any bank robbery or theft, criminals are targeting people sitting thousands of kilometers away through mobile phones and laptops. They are trapping people in various ways like fake investment schemes, fake customer care, online shopping, digital arrest, lottery, job fraud, task fraud and QR code scanning.

Statistics of Rajasthan show that every hour about ten people are becoming victims of cyber fraud. This is not just a statistic but a serious challenge facing the society. A large number of these are those who had accumulated their savings through years of hard work. In many cases, people’s lifetime earnings disappeared from their accounts within minutes. The victims include youth, businessmen, working class, women and elderly people. Especially people in the age group of 25 to 40 years are being targeted the most, because this group uses digital services the most.

The most worrying aspect of cyber crime is that criminals keep adopting new methods. As soon as the police and banking institutions try to control one method, the fraudsters find a new method. In recent years, fraud worth crores of rupees has come to light through digital arrest, investment fraud and fake share market investment schemes. Criminals scare people by pretending to be police officers, CBI officers, bank employees or representatives of government agencies and then get them to transfer money.

The question also arises that when crores of rupees are being spent every year on cyber police stations and cyber security system, then why is the recovery rate so low. The recovery of only Rs 39 crore against the fraud of Rs 354 crore in Rajasthan shows the limitations of the system. One reason for this is that fraudsters immediately transfer the amount to many fake accounts. These accounts are called mule accounts. The money travels across multiple states and sometimes overseas, making it extremely difficult to trace and bring back. Apart from this, investigation of cyber crimes requires technical expertise, modern equipment and inter-state coordination, lack of which at times hampers the investigation.

The role of banks is also important in this context. According to the report, the most affected customers include big public sector banks. This does not mean that banks are directly responsible, but it does show that more efforts are needed to make customers aware and take prompt action on suspicious transactions. There are many levels of security in the banking system, yet if the customer is not alert, criminals can mislead him in some way or the other.

Today cyber security is no longer the responsibility of only the police or banks. It has also become the personal responsibility of every citizen. In most of the cases, fraudsters take advantage not of people’s technical weakness but of their emotions, greed, fear or haste. If a person clicks on an unknown link, shares OTP, downloads a screen sharing app or invests money in a fake investment scheme with the lure of higher profits, he increases his own risk. Therefore awareness is the biggest weapon.

The government and police administration are also continuously making efforts to make people aware. Cyber ​​Helpline 1930 is an important initiative in this direction. Experts believe that the first hour after cyber fraud occurs is the most important. If the victim immediately lodges a complaint on the helpline or cyber portal, then the chances of freezing the amount and recovery increases significantly. Unfortunately, many people delay reporting due to shyness, nervousness or lack of information, which gives criminals enough time to extort money.

The digital economy is expanding rapidly in the country. The government is promoting cashless transactions and crores of people are making online payments daily. In such a situation, cyber security will have to be made a matter of national priority. Merely opening new cyber police stations will not be enough, but modern technology, trained human resources, artificial intelligence based monitoring system and better coordination with banking institutions will also be necessary. Besides, extensive public awareness campaigns will have to be conducted through schools, colleges and social institutions so that people can avoid falling into the trap of cyber criminals.

At present, cyber crime is no less than an epidemic. This crime is devastating people economically without weapons, without violence and without any physical presence. The figures from Rajasthan are a warning that if effective steps are not taken in time, this problem can become worse. There is a need that the government, police, banks, technical institutions and common citizens together face this challenge. The digital revolution will be considered successful only when both people’s money and their trust remain safe. Otherwise, this growing empire of cyber thugs will continue to swallow the hard-earned money of the common people and questions will continue to be raised on the security system.

*Kantilal Mandot*