600 Crore Lost by Cyber Crime Victims in Telangana

The increasing incidents of cyber fraud in Hyderabad have become a huge concern for the cops, where many private employees, including techies and business executives, have fallen victim to scams promising easy money through part-time jobs.

E Sujatha (name changed), a techie, became a victim of cyber fraud after she responded to a part-time job advertisement on Telegram. The advertiser promised easy money with little effort, and Sujatha invested 1,000 rupees. However, within two days, she lost 24 lakhs.

In Telangana victims have lost a staggering 600 crores since June 2021. Police officials attribute the high incidence of cybercrime to victims’ greed and ignorance.

Another victim, a businessman from Ghatkesar, lost a substantial sum of two crores, making it one of the biggest individual losses in recent times.

The trend of cybercrime has been growing, with victims losing substantial sums ranging from lakhs to crores. Police attribute the high incidence of such crimes to the victims’ greed and lack of awareness.

Authorities face challenges in tracking down the fraudsters, who are often based in other states or abroad. While efforts have been made to tackle the issue, victims often struggle to recover their lost funds and sometimes resort to borrowing money from friends and relatives to invest in these schemes.