A web of lies & deceit: Chandigarh residents lost ₹17 cr in cyber frauds in six months

City residents lost a whopping ₹17 crore to online frauds, most of it in online investment scams, in the first half of 2024, data accessed from cyber cell of Chandigarh police show.

The amount is more than double the cyber fraud losses reported in 2023, which stood at ₹7 crore.

Given that only 76 cyber-crime cases have been reported up to July 2024, the huge financial loss of ₹17 crore indicates that cybercriminals are now focusing on high-value targets and more sophisticated methods to maximise their gains.