Arabic Arabic Chinese (Simplified) Chinese (Simplified) Dutch Dutch English English French French German German Italian Italian Portuguese Portuguese Russian Russian Spanish Spanish
| (844) 627-8267

Online financial fraud dominates cybercrime landscape, accounts for 77% of cases: Report | #cybercrime | #computerhacker

Online financial fraud accounted for 77.41 percent of the total reported cybercrimes reported from January 2020 to June 2023, according to a latest report.

The Future Crime Research Foundation (FCRF), a non-profit startup incubated at IIT Kanpur, released a white paper, titled ‘A Deep Dive into Cybercrime Trends Impacting India,’ that underscores the pressing need for enhanced cybersecurity measures and increased awareness among individuals and organisations alike.

The report categorises cybercrimes into distinct groups, revealing key findings in various categories, with financial fraud leading the list at over 77 percent. “Subcategories include debit/credit card fraud, business email compromise, internet banking-related fraud, and the alarmingly prevalent UPI fraud. These figures underscore the need for robust cybersecurity measures to safeguard financial transactions conducted online,” FCRF said in a statement.

Next in line is ‘Online and Social Media-Related Crime’ at 12.02 percent. “This category encompasses a wide range of crimes associated with online platforms and social media. Subcategories within this domain include cheating by impersonation, cyberbullying, sexting, email phishing, and more,” it added.

Cyberbullying and impersonation had the highest number of cases in this category.

The report explores the category of hacking and damage to computer systems, which accounted for 1.57 percent of the total cases, highlighting cybercriminals’ diverse methods of targeting digital infrastructure.

The report also delves into smaller but notable categories, including online cyber trafficking, online gambling, ransomware, cryptocurrency crime, and cyberterrorism. These collectively emphasise the importance of cybersecurity awareness and preparedness against a variety of potential threats.

The white paper identifies the top 10 districts most susceptible to digital threats, accounting for a staggering 80 percent of reported cybercrime incidents in India.

Bharatpur leads the list, constituting 18 percent of the incidents, followed by Mathura at 12 percent, and Nuh at 11 percent. The vulnerability of these districts is attributed to factors such as their geographical proximity to major urban centres, limited cybersecurity infrastructure, socio-economic challenges, and low digital literacy.

Harshvardhan Singh, Co-Founder of FCRF, highlighted the importance of collaborative efforts to combat cyber threats, stating, “It is crucial for law enforcement agencies, individuals, businesses, and policymakers to understand the changing landscape of cybercrimes in India. This report not only highlights the distribution of cybercrimes but also underscores the need for collaborative efforts to combat these threats.”


Click Here For The Original Source.