Jun 9, 03:16 AM

India Reports Over 2 Million Cyber Fraud Cases in 2024 with ₹19.5 Crore Breach Cost, 72% Firms Hit by AI Attacks

Cyber fraud cases in India have surged from 1.39 million in 2022 to over 2 million in 2024, with scammers employing advanced digital techniques such as identity impersonation using leaked data. These fraudsters often contact victims' acquaintances with messages claiming a changed phone number to solicit money. A new wave of AI-driven scams involving deepfake videos has emerged, targeting Indian investors by using fabricated endorsements from prominent figures like Sundar Pichai and Nirmala Sitharaman. Cybersecurity experts have issued warnings and guidance on defending against these sophisticated threats. India was ranked as the second most targeted country for cyberattacks in 2024, experiencing 95 reported breaches with an average breach cost rising to ₹19.5 crore, particularly affecting the technology and pharmaceutical sectors. Additionally, nearly 72% of Indian companies faced AI-powered cyberattacks in the past year, highlighting the growing challenge of cyber resilience. Globally, only about 7% of companies surveyed were considered cyber resilient, underscoring the widespread vulnerability to cyber threats.

#India #Indian #Sundar Pichai #Nirmala Sitharaman

Written with ChatGPT (GPT-4).

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India Reports Over 2 Million Cyber Fraud Cases in 2024 with ₹19.5 Crore Breach Cost, 72% Firms Hit by AI Attacks

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