Around 1.1 million financial fraud cases registered in 2023, shows data

A total of 1.13 million cases of financial cyber fraud were reported in 2023, according to a Lok Sabha reply on February 6.

The ‘Citizen Financial Cyber Fraud Reporting and Management System’ was set up under the ‘Indian Cyber Crime Coordination Centre’ by the Ministry of Home Affairs to report financial fraud.

“More than Rs 1,200 crore have been saved in more than 4.7 lakh (470,000) complaints,” since the start of the system, as per the reply.

It added that the government had blocked 320,000 SIM cards and 49,000 International Mobile Equipment Identity (IMEI) numbers reported by the police.