To address this issue, awareness programs have been initiated to educate this demographic. K Shilpavalli, DCP Cyberabad (Cybercrimes), noted that the victims of cyber frauds are often working professionals who are aware of potential scams. Delayed reporting often leads to greater losses. Many of these incidents could be prevented by adhering to basic cyber hygiene practices, such as avoiding unknown calls, refraining from responding to offers promising unrealistically high returns, and being cautious about sharing personal information with strangers.ĭevendra Singh, TSCSB SP, emphasized the importance of reporting losses within the "golden hour" of 24 hours to increase the chances of recovering the lost funds. For instance, a techie from Serilingampally lost 60 lakh in a task-based fraud, while another individual with a finance background lost around 40 crore in a trading scam.Īccording to TSCSB director Shikha Goel, criminals are constantly devising new methods to carry out such crimes. The Telangana State Cyber Security Bureau (TSCSB) has put 22 crore on hold, which accounts for 15% of the total amount lost and will be refunded through due legal processes.Īmong the reported cases, individuals have been deceived by fraudulent schemes promising high returns on investments. Between Jan 1, 2024, and Feb 8, around 11,000 complaints were registered with cybercrime and other police stations across the state, resulting in the loss of approximately 150 crore. In just over a month, the people of Telangana have fallen victim to cyber frauds, losing a staggering 150 crore, averaging over 3.3 crore per day.
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