00:00In the age of technological innovation and easy internet access, the world is more connected
00:11than ever before.
00:12However, this connectivity has also brought with it a new wave of crimes.
00:18Yes, we are once again talking about these cyber crimes.
00:22These digital offenses range from identity theft to data breaches to online fraud, even
00:28to cyber bullying.
00:30And they have become an alarming concern for everyone, be it the government, be it the
00:35businesses and individuals alike.
00:37One of the most troubling aspects of cyber crime today is the increase in online fraud,
00:43where individuals are swindled out of large sums of money through fake websites, phishing
00:49schemes or fraudulent investment opportunities.
00:52A recent case in Bengaluru sheds light on this growing menace and exemplifies how cyber
00:59criminals are targeting ordinary citizens using manipulative tactics.
01:03On November 4, 2024, it was reported that two residents of Bengaluru collectively lost
01:09a staggering amount of rupees 95 lakh rupees to cyber fraudsters after falling victim to
01:16a deceptive scheme involving fake videos.
01:19These videos, which allegedly featured prominent figures like the Infosys co-founder N R Narayan
01:26Murthy and Reliance Industries chairman Mukesh Ambani, were used to lure victims into clicking
01:33on malicious links that led to fake investment platforms.
01:37This particular scam highlights a new form of deception, the manipulation of public trust
01:44through fake videos of well-known personalities to gain credibility.
01:49The victims, one of whom was a woman and the other a retired employee, failed to verify
01:54the authenticity of the videos and links they clicked on.
01:58The fraudster made convincing promises of huge returns on investments and both individuals
02:05ended up transferring large sums of money.
02:08The woman initially invested rupees 1.4 lakh and received a small return of 8000.
02:15Encouraged by this small success, she then invested further of rupees 6.7 lakh and later
02:21around 67 lakh rupees.
02:24However, once the money was transferred, the returns stopped and she realized she had been
02:30duped.
02:31Similarly, the retired employee lost rupees 19 lakh after investing in an identical scheme
02:38that promised quick and high returns.
02:41This particular scam is an example of the growing trend of social media-based frauds
02:46where people are encouraged to click on suspicious links, share personal information and invest
02:53money into fake schemes.
02:55These cases serve as a stark reminder of how cybercriminals are using increasingly sophisticated
03:02methods to manipulate people.
03:05Individual losses like those reported in Bengaluru can be devastating, especially for retirees
03:11and people with limited financial resources.
03:13Now, to give you a little idea of how big this crisis is, let me share some data with
03:20you.
03:21According to the 2023 Cybersecurity Venture Report, cybercrime damages are projected to
03:28cost the world $10.5 trillion annually by the year 2025, a sharp rise and increase from
03:36$3 trillion from the year 2015.
03:40Now, if I talk about the data of India, the National Crime Records Bureau, NCRB in short,
03:46statistics show that in year 2020 alone, the country registered over 50,000 cybercrimes,
03:53which was an increase of more than 20% compared to the previous year.
03:58In fact, in 2022 alone, the country reported losses exceeding of 12,000 crore due to various
04:06forms of cyberfraud.
04:09People today use internet literally for everything, be it social networking or shopping to banking
04:15and investing.
04:16While this brings a lot of convenience, it also opens doors for fraudsters who exploit
04:22the lack of digital literacy and awareness among the users.
04:26As cybercrime continues to rise, it is essential for individuals to take steps to protect themselves
04:32from falling prey to online frauds.
04:35The rise of cybercrime is an unfortunate side effect of the digital revolution.
04:41The Bengaluru Scam serves as a warning about the dangers lurking online and the importance
04:46of vigilance in the digital world.
04:49In this interconnected world, staying safe requires both caution and education, and that
04:55is why it becomes our utmost priority and responsibility to stay updated and alert.
05:03That's all in today's episode, stay safe and stay updated.
05:07I am your host Rhea and you are watching OneIndia.
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