Cyber criminals loot Rs 5 crore a day in Telangana

Hyderabad: Cyberfraudsters daily loot over Rs 5 crore a day from the victims in the state, either by luring them into fraudulent schemes or by intimidating them, sources said. They estimated that over 10 times this amount is lost in unreported cases.

This was because most of victims do not report to the police in the ‘golden hour’ after they are looted. The cybercriminals use this time to convert the cash into vouchers and transfer the money into other accounts.

A.V. Ranganath, city joint commissioner, CCS and SIT, told Deccan Chronicle that the police after speaking to the victims in detail and observing the methods that cyberfraudsters adopt, felt that the best way to handle this was to increase awareness.

“Our purpose is to create digital awareness so that once the victim senses trouble, he or she reports to the police,” Ranganath said. His concept was that the victim should be updated with the ways of the fraudsters. “Investigating the crime and freezing the loot comes second.

He said the cyber police would use the traffic police equipment including electronic signboards to alert people on how to save themselves from cybercriminals, and approach the police in case they have fallen victim.

“Our special teams have identified notorious cybercriminals and we will catch them very soon, Ranganath said.