Bengaluru Experiences Increase of 26% in Cybercrime Incidents Over the Last Year; Tips to Keep Yourself Protected

“Bengaluru techie falls prey to fake police cyber scam gang, loses Rs 33,000.”

“Bengaluru-based software engineer loses Rs 64,000 in online rental scam.”

“A Bengaluru-based technician swindled a fake hit-and-run case and fake terror financing claims and swindled Rs 97,000.

Familiar titles? If yes, it’s time to be vigilant, check and investigate every unknown caller or message before taking action. Ignore it and risk falling prey to cybercriminals who are growing by the hundreds in India’s Silicon Valley, police say.

Bengaluru has seen the highest number of cybercrime cases in seven years this year, with 12,615 cases reported and a whopping Rs 470 crore lost to fraudsters between January and September.

According to statistics from the Bengaluru-based cyber crime branch, the city has seen a 25 percent increase in financial fraud in just one year.

ReturnByte has used records from 2017 to 2023 which show a steady increase in online money transfer/debit/credit card fraud and workplace fraud. This also accounts for the majority of cases reported against cybercriminals in the city.

In 2017, there were 1,500 cases of investment fraud, rising to 4,252 in 2022, and currently 4,235 cases, including debit/credit card fraud and business opportunity fraud.

Cyber criminals, mainly called investment fraud, target people by luring them with business opportunities, especially as a source of additional income.

We’ll give you an idea of the common ways these criminals operate and how you can keep your money safe.

“First of all, people should not believe the information given by a random caller over the phone or a message on WhatsApp. You should use judgment and common sense, check every call/message from numbers that are not in the caller list,” said a senior police officer. “The saddest thing is that most of the people who fall victim to such scammers are highly educated and elderly. People may be educated but not wise. People shouldn’t fall prey to greed. Then 80 percent of the cases don’t happen.”

A police official who works closely on tracking, tracing and solving cyber crime cases said that these criminals target their victims by luring or enticing them with better financial gain.

“There are people who want other side incomes that help them improve their lifestyle. This trend has been seen in the last two or three years,” the police explained.

How do they feel about it? The person first gets a call saying that an app has been developed where people can invest Rs 500-1000 per month and they would get a return of Rs 200-300. To prove this money, the criminals do a similar transaction with the second victim and transfer 200 rupees to the first.

“This way they start to believe that the offer is genuine and that they can earn quickly. Greed makes people invest more and more. Some have even invested as bills only to be cheated when they fold and run away with the money,” said an officer.

But how do they create untraceable accounts that can handle such large sums?

Criminals seek help from low-income earners such as farmers, truck drivers or domestic helpers to open bank accounts in their names. They assure them that they would give them some of the money and then transactions involving lakhs take place, the officer said.

“People would believe it to be a genuine account because all the documents including Aadhaar and PAN card would be valid. They make it as close to reality as possible. They even create WhatsApp chat groups and people discuss that they got the bonus, so others start believing, that the money transaction is genuine, the police explained.

When such practices are revealed, criminals also come up with new ways to cheat people.

Kshitij, an investment banker in Bengaluru, received a call claiming to be customs officials from the Mumbai airport and a package containing drugs marked in his name had been detained. He received the call and promptly informed the cyber cell about the details.

A similar call was made to PR professional Sunitha PK who was given the same information and asked to be present at the Mumbai customs office on the said date.

“When I tried to call the number back, it was diverted to the prepaid number of a shop in Bandra. I let it go. But next time I will definitely register it as a case,” he said while sharing his experience with New18.

– Such cases are also increasing. All we can say is be careful and be smart,” a senior cyber crime official said.

Other scams that people seem to be falling victim to include identity theft, social media identity theft, scams asking for upfront payments for free gifts like iPhones, expensive gifts, loans and gold arrangements. Another scam related to seeing the hike is related to bitcoins. In the years 2017–2021, there were no cases at all. However, from 2022 to date, the growth has been 46 percent, the officer said.