Cybercrime in India is escalating at a concerning pace, as per the latest figures shared by the Ministry of Home Affairs (MHA) in the Lok Sabha on July 22, 2025, during the ongoing Monsoon Session of Parliament.
According to the official data, the number of cybercrime complaints logged on the National Cyber Crime Reporting Portal (NCRP) has jumped from approximately 4.5 lakh in 2021 to over 22.6 lakh in 2024—a fivefold increase in three years.
Notably, financial frauds accounted for nearly three-fourths of all reported cases. The associated financial losses have surged more than three times in a year, rising from ₹7,465 crore in 2023 to ₹22,845 crore in 2024, pointing to both the scale and sophistication of attacks targeting individuals and enterprises alike.
The data also offers a state-wise view of the cybercrime landscape. Maharashtra emerged as the state with the highest recorded losses in financial fraud cases in 2024, followed by Bihar and West Bengal. Several smaller states and union territories, too, reported significant spikes in cyber complaints, reflecting that this threat is no longer limited to metros.
The steep rise in complaints and monetary losses has sparked concern among risk and cybersecurity leaders.
“Cyber criminals are finding innovative ways to defraud gullible persons while GOI agencies, financial institutions, media and regulators are trying to educate people about the importance of cyber hygiene. Senior citizens are seen vulnerable on many occasions. As digital penetration grows, we need to find new ways to spread awareness,”
Biju E Punnachalil, Chief Risk Officer, Bandhan Bank, in an exclusive comment to ETCISO.
Punnachalil’s remarks highlight a growing consensus that awareness efforts, though underway, are not keeping pace with the evolving tactics of cybercriminals.
“When we look closely at this data, it becomes evident that the cyber threat landscape is expanding at an alarming pace. Cybercriminals today are faster, more agile, and far more coordinated than ever before. Their attacks have grown increasingly sophisticated, not only in frequency but in the level of disruption they cause,” Evaa Saiwal, Head of Cyber Insurance, Policybazaar for Business, told ETCISO. “What we’re witnessing now are high-impact attacks that are targeting our most critical sectors — financial institutions, healthcare systems, defence infrastructure, and more.”
Saiwal’s insights underscore a vital shift: cybercrime is no longer just a technical risk—it’s a business continuity and national security issue.
She adds: “Despite progress over the past decade, cybersecurity in many enterprises is still seen as a support function rather than a core strategic priority. While awareness has improved, the urgency to act has not kept pace with the evolving threat environment.
To keep up with this growing risk, businesses must urgently recalibrate their cybersecurity systems. That means prioritising critical areas like robust cyber insurance measures, employee training, real-time threat intelligence, dark web monitoring, and incident response planning.”
As cyber threats grow in volume and complexity, India’s security leaders are calling for better preparedness, more investment in cyber defence, and smarter public awareness strategies.
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