Increasing Cyber Frauds: Are we the victims of global wars?

 The Government of India launched an emergency helpline 1930 for reporting online frauds. Everyday thousands of complaints are reported about online frauds. The amounts involved in the cases may vary from few hundreds to Lakhs & in few cases it is in multiple crores. But in very few cases the lost money is recovered.

In most of these cases the money is transferred via multiple fake bank accounts and goes to bank accounts which are located outside the country or it is converted into digital currencies and then transferred outside India. By the time the victim realizes he has been cheated, his money would have crossed the borders of India. In these cases, once the money crosses the border of India then it is difficult to get it back.

To recollect one of such recent case is: Nebilo Technologies, a Crypto currency firm based out of Bangalore lost about Rs.380 crores in a cyber fraud case in June 2025. Just think about this for a minute. A company with deep understanding of crypto technologies and having all security measures in place with all the secured technologies and expert people monitoring, it was not sufficient to protect itself from the cyber frauds.

This is an example of enormous risk today all of us are facing in this digital world. In India most of these criminal activities which are reported are originated from outside our borders. There are well funded criminal groups/mafias who are also often funded by our enemy countries operating from different countries and remote locations of the world.

In today’s geo politics the battlegrounds are not at the Borders, it is fought in the digital world. This type of war has many faces destroying the digital infrastructure, disconnecting the communication systems,  hacking, data theft, online frauds, spreading misinformation etc. They attack on the digital infrastructure of Govt. institutions, banks, corporate entities, social networking sites and even the devices of (Mobile / Laptops) used by the common citizens. Just to remind,  hundred plus Chinese apps were banned in India who were considered as security threats for the country and many of them were siphoning off money from common man’s pocket by various methods like lending, online gaming apps etc.

For a lay man who has limited knowledge and resources, it is difficult to keep a track of ever evolving threats and to take safeguarding measures. Hence, he becomes the easy prey to these criminals. It is unfortunate that in many cases they lose their entire life savings.

Those who wish to protect themselves from these risks should take the help of professionals in order to protect their hard earned life savings / investments live a secure financial life.

This blog is written Mr. Vinay B N who is a Chartered Accountant with 15 plus years of experience in managing the wealth for high net-worth individuals and also the founder of WR Ventures which focuses on the digital protection, wealth management, tax planning for individuals and families. You can write to hello@wrventures.in or visit their website at  www.wrventures.in for more information.