BENGALURU: Karnataka has lost a huge Rs 221.17 crore to cybercrime in the previous three years, with only 21% (Rs 47.04 crore) of the money recovered, according to state Home Minister Araga Jnanendra. During this time, Bengaluru alone has lost Rs 129 crore to cybercrime. The minister made the revelation in response to a question from MLC Sunil Vallyapure in the House.
Between 2019 and 2022 (through February), Karnataka reported at least 32,286 crimes, but only 7,835 of them were solved, resulting in the arrest of 1,243 persons. According to the minister, only 75 people were convicted of cybercrime within the same time period. Notably, many incidents involve internet phishing, one-time password (OTP), and social media fraud.
Jnanendra further stated that Karnataka lost Rs 23.36 crore in 2019, but that the figure grew dramatically following the pandemic — Rs 72.82 crore in 2020 and Rs 100.63 crore in 2021.
“Being able to recover 21% of the money is still good,” stated Director General of Police (DGP) Praveen Sood. “It’s all in the virtual world, and we have no idea where the money is going. The entire cybercrime industry is based on forged SIM cards and phoney Know Your Customer (KYC) information,” he said
He also stated that cybercriminals take advantage of the public’s ignorance and greed to carry out their crimes.
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