Cyber fraud losses in India have surge nearly 10-fold in a decade: finance ministry

New Delhi: Losses due to cyber frauds have surged nearly 10-fold in a decade, Pankaj Chaudhary, minister of state in the Union finance ministry, said on Monday.

Responding to a question in the Lok Sabha, Chaudhary said losses due to cyber frauds increased to ₹177.05 crore in 2023-24 from ₹18.46 crore in 2014-15. In the first nine months of FY25 (April-December 2024), losses due to cyber frauds stood at ₹107.21 crore.