431 crores lost in seven months, but only 6.50 crores recovered; Cyber fraud is increasing

THIRUVANANTHAPURAM: Fake stock investment, online share trading, virtual arrest, loan app... With various forms of cyber fraud are taking place, Malayalis have lost Rs 431 crore in the last seven months. This is the figure till July this year. A total of Rs 764 crore was defrauded in 2024. Meanwhile, only Rs 172 crore from various cyber frauds was recovered in the last three years. A total of Rs 6.50 crore was recovered from the fraudsters till July this year. Rs 68 crore in the various accounts of the fraudsters has been frozen.

From ordinary people to highly educated people, businessmen, doctors and even professionals are scammed. The most common cyber fraud is through fake stock investments. Initially, those who invest a small amount will be given huge profits. Then they will be asked to invest a large amount, which the scammers will loot.

Cyber fraud is currently taking place in the name of the Motor Vehicles Department's M Parivahan app also. Fake messages will be sent via WhatsApp citing vehicle violations. When the link is opened to pay the fine, the fraudsters will steal bank account details. So far this year, 2.8 crores have been defrauded in 545 cases.

Amount lost in fraud

(Seven months, amount in crores)

Fake stock investment..........................................184

Job offer.................................................................60

Fake loan app........................................................16.8

OTP fraud...............................................................3.28

(Cases where more amount was lost)

Can be prevented if reported within an hour

The fraudsters can be prevented from transferring money to some extent if a complaint is filed on 1930 within an hour of the cyber fraud. The operations wing under the Cyber Division is responsible for investigating and recovering money in the state.

Complaints: 23,800

Arrests: 286