In the first four months of 2024, India's Cyber Crime Coordination Center reported over 740,000 cybercrime cases, with approximately 85% involving online financial fraud, marking a significant escalation in digital crime activities.
The Reserve Bank of India (RBI) has documented more than 13,000 bank fraud cases in 2024, with losses reaching ₹21,367 crore during the first half of the 2024-2025 fiscal year. Bank account takeover attacks now constitute 55% of all reported fraud cases in the country.
International law enforcement agencies have intensified their focus on India-based fraud operations. In June 2023, an FBI investigation uncovered a Delhi-based call center operation that allegedly defrauded U.S. citizens of approximately $20 million. FBI statistics indicate that American citizens have lost over $10 billion to call center-related scams.
Recent enforcement actions include:
- The January 2025 termination of 185 Apple employees, including multiple Indian nationals, for alleged grant program fraud
- A 2022 conviction resulting in a 20-year sentence for an Indian citizen who orchestrated a multi-million dollar call center scam targeting U.S. clients between 2013 and 2016
- The arrest of 200 foreign nationals, predominantly Indian citizens, by Sri Lankan police for online financial fraud
The Financial Action Task Force has urged India to expedite legal proceedings in financial fraud cases, as the country grapples with an increasing number of sophisticated scam operations targeting both domestic and international victims.
Payment card and internet transaction fraud cases have shown a dramatic increase, rising from approximately 3,000 cases in 2022 to nearly 30,000 in 2024, highlighting the rapidly evolving nature of digital financial crimes.
