Cyber Fraud Causes A Loss of ₹1 Cr Almost Every Day in Gujarat

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The majority of these Cyber Fraud cases include victims who were the targets of cyberbullying with fast loan applications.

GUJARAT: As per the Cyber Cell of Gujarat CID crime, online financial fraud (cyber fraud) costs state residents in Gujarat anywhere between ₹1 crore and ₹1.2 Cr every day. The majority of these Cyber Fraud cases include victims who were the targets of cyberbullying with fast loan applications.

Ahmedabad is one of four significant cities in the state that have voiced significant grievances. This shocking revelation was made public at the “Hacked” session by representatives of the Gujarat CID crime unit’s cyber cell, which was conducted at the Surya Emerald residential community on the Iscon-Ambli Road. The Times of India and Gujarat CID (crime) organized the workshop to increase societal awareness of cybercrime and how it can be prevented. The police reported that the cybercrime helpline number 1930 receives roughly 1,200 calls per day. Of these calls, 250 or so are about financial fraud.

Manish Bhankharia, PI Cybercell, Gujarat CID (crime), Hemant Pandya, and PSI Dhaval Shukla were some of the representatives in attendance.

“Cybercriminals are using the popular gaming websites that most teenagers frequent as phishing targets. We receive complaints about antisocial individuals communicating with children via SMS and video chats. One can even share papers on these gaming websites,” warns Bhankharia, cautioning parents to be on the alert for such online contacts. According to Bhankharia, “Many middle-class women are being taken advantage of by rapid loan apps, which snoop through your contact list, SMSs, and photo galleries. Women are the target audience for these scams, which involve the morphing of photos utilizing sexual material.” Ramesh Shah and Sandeep Kansara, the winners of the Best Questions Asked category, were also honored during the event.

“Mobile apps are aware of our passwords, financial activities, and interactions,” according to Malay Parikh, a Surya Emerald resident. “We should be conscious of technology’s flaws and vulnerabilities as we make use of it. I went to the session to find out how cybercriminals are advancing to deceive more people.”

According to PSI Shukla, there are more and more complaints about online job scams. In exchange for modest work-from-home chores like packing pencils, victims are given instant cash. He claimed that “Those who sign up in the hopes of making extra money end up losing their valuable savings to these frauds.”

About The Author:

Yogesh Naager is a content marketer that specializes in the cybersecurity and B2B space. Besides writing for the News4Hackers blog, he’s also written for brands including CollegeDunia, Utsav Fashion, and NASSCOM. Naager entered the field of content in an unusual way. He began his career as an insurance sales executive, where he developed an interest in simplifying difficult concepts. He also combines this interest with a love of narrative, which makes him a good writer in the cybersecurity field. In the bottom line, he frequently writes for Craw Security.