Thursday, 14 May, 2026
As many as 73,987 cases or 72.6 percent were linked to financial frauds ranging from online scams and phishing attacks to digital payment deception. Image Source: Getty
As many as 73,987 cases or 72.6 percent were linked to financial frauds ranging from online scams and phishing attacks to digital payment deception.
India’s battle against cybercrime has entered a decisive new phase. The latest “Crime in India 2024” report released by the National Crime Records Bureau (NCRB) has revealed a sharp rise in cyber offences across the country, underlining growing digital vulnerabilities for citizens, financial institutions and law enforcement agencies alike. According to the report, India registered a staggering 1,01,928 cybercrime cases in 2024, a steep 17.9 percent jump from the 86,420 cases reported in 2023. The crime rate under the cybercrime category also rose significantly from 6.2 to 7.3, reflecting the rapidly expanding threat landscape in an increasingly digitised economy.
What is particularly alarming is the nature of these crimes. Fraud emerged as the dominant category, accounting for nearly three-fourths of all registered cyber offences. As many as 73,987 cases or 72.6 percent were linked to financial frauds ranging from online scams and phishing attacks to digital payment deception. Sexual exploitation followed with 3,190 cases, while extortion-related cyber offences stood at 2,536 cases, highlighting how cybercriminals are exploiting technology for both financial and psychological targeting.
Against this backdrop, the Centre has intensified its crackdown on organised cybercrime networks. In a major move aimed at tightening the digital security ecosystem, Union Home Minister Amit Shah announced that the Indian Cyber Crime Coordination Centre (I4C) has signed a Memorandum of Understanding with the Reserve Bank Innovation Hub (RBIH). The partnership seeks to dismantle the growing menace of “mule accounts”, bank accounts used by cybercriminals to route stolen money and conceal illicit transactions.
Describing mule accounts as one of the biggest hurdles in curbing cyber fraud, Shah said the collaboration would leverage Artificial Intelligence to identify and eliminate suspicious financial networks operating behind the scenes. Under the agreement, data from I4C’s Suspect Registry will be integrated into AI-powered fraud detection systems deployed across banks, enabling institutions to swiftly flag suspicious accounts and prevent fraudulent transactions before they spiral into large-scale scams.
Officials said the initiative will strengthen analytical support, intelligence sharing and operational coordination between law enforcement agencies and financial institutions. The integration will also enhance advanced AI tools such as MuleHunter, which is being implemented across the banking sector to detect hidden fraudulent activity patterns.
Calling the initiative a significant step toward building a “cyber secure Bharat”, Shah stressed that cybercrime has evolved far beyond isolated individual scams. He warned that cybercriminal operations have now become highly organised and institutionalised, with networks constantly adapting through the use of advanced technologies, fake digital identities and sophisticated financial mechanisms.
The Home Minister also revealed the scale of the government’s ongoing crackdown. Till December 2025, authorities had cancelled nearly 12 lakh SIM cards, blocked the IMEI numbers of more than three lakh mobile phones and arrested over 20,853 accused linked to cyber offences. These actions, officials say, are part of a broader multi-dimensional strategy to tackle digital crime at every level.
Shah emphasised that India’s cybercrime response now rests on several critical pillars - real-time cybercrime reporting, stronger forensic infrastructure, capacity building, research and development, cyber awareness campaigns and improved cyber hygiene practices among citizens. He further highlighted the crucial role of agencies such as the Central Bureau of Investigation (CBI) and the National Investigation Agency (NIA), especially in tackling cybercrimes with international links.
However, he cautioned that major challenges still remain. One of the biggest obstacles in securing convictions, Shah noted, is the improper handling and preservation of digital evidence. Breakdowns in the chain of custody often weaken prosecution efforts, allowing sophisticated cybercriminals to escape punishment.
Warning that cyber fraud could have escalated into a national crisis without timely intervention, Shah urged all stakeholders from banks and telecom operators to investigative agencies and citizens — to work in unison. He stressed the need for quicker response times, stronger awareness campaigns, improved functioning of the national cybercrime helpline 1930, and tighter coordination between financial institutions and I4C.
As India rapidly expands its digital economy and online financial ecosystem, the NCRB report serves as both a warning and a wake-up call. While technology has transformed lives and unlocked economic opportunities, it has also opened new doors for cybercriminals. The challenge now lies not only in catching offenders, but in building a resilient digital shield capable of protecting millions of citizens in an increasingly connected world
