Cyber frauds cost India Rs 177 crore in FY24: How to protect yourself

The amount of money lost due to cyber fraud in India has more than doubled from Rs 69.68 crore in FY23 to Rs 177.05 crore in FY24. In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said as much as Rs 177 crore was lost on account of credit, debit card and internet banking frauds in the 2023-24 fiscal.

The quantum of loss in FY22 was Rs 80.33 crore, it was Rs 50.10 crore in FY21 and Rs 44.22 crore in FY20.