Banking frauds make for 50% of phishing cases in Maharashtra

Half of all the phishing complaints reported to the state’s nodal cyber security agency, Maharashtra Cyber, in the past two financial years pertained to banking frauds. The anti-phishing unit of the agency received 5,226 complaints between April, 2019 and March, 2021.

According to an official, “As people spent a large part of 2020 in front of the screen, cyberscamsters became more active.” Of all complaints reported to anti-phishing unit, banking frauds formed a majority (50%).

Lawyers, however, say actual phishing attacks in the Maharashtra are far more than those being reported to Maharashtra Cyber’s portal. Cyber lawyer Dr. Prashant Mali stated, “The anti- phishing unit must also make data available on how many complaints received by them eventually convert into FIRs. For cyber crime victims, what matters most is getting their money back and the process of law cannot begin without an FIR.”

Cyber crimes in India had caused a total financial loss of Rs. 1.25 lakh crore in the year 2019.