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Udupi: In a shocking case of investment fraud, a 72-year-old man from Udupi, Karnataka, lost Rs 49 lakh after falling prey to a deceptive stock market scheme. The incident highlights the growing menace of online scams targeting unsuspecting individuals.

According to the complaint filed by Francis Castelino, an unknown individual added his son's mobile number to a WhatsApp group titled "Stock Market Navigation." The group shared stock market insights and promised lucrative returns, convincing Castelino’s son to invest. Trusting the information, the son persuaded his father to make substantial investments.

On December 30, 2024, Castelino transferred Rs 17,00,000, his wife contributed Rs 10,50,000, and their son invested Rs 21,50,000 to the bank account provided by the fraudsters. 

However, when Castelino attempted to withdraw the invested money, he and his family were pressured to reinvest further. Realizing that the promised profits and their principal amount were not forthcoming, the family approached the police for help.

A case has been registered at the Udupi CEN Police Station under Sections 66(C) and 66(D) of the IT Act and 318(4) BNS. Investigations are underway to track down the culprits and recover the lost funds.

Mangaluru: Despite a reduction in the number of cybercrime cases in 2024 due to effective preventive measures and increased public awareness, the financial impact of cybercrimes in the Mangaluru Commissionerate was the highest this year. Over Rs 40.46 crore was lost, with Rs 9.32 crore frozen and Rs 2.55 crore released to the complainants, reported Commissioner of Police Anupam Agrawal.

Comparing years, the number of cybercrime cases at CEN Police Station decreased from 196 cases in 2023 to 72 cases in 2024. In total, CEN registered 313 cybercrime cases from 2022 to 2024, including 55 cases in 2022, 196 in 2023, and 62 in 2024. In contrast, other police stations reported 120 cybercrime cases during this period, with eight cases in 2022, 40 in 2023, and 72 in 2024.

The financial losses from cybercrimes in 2022 were Rs 61 lakh, with Rs 7 lakh frozen and Rs 6 lakh returned to victims. In 2023, the losses increased significantly, with Rs 9.83 crore lost, Rs 6.29 crore frozen, and Rs 1.17 crore released to complainants.

Cybercrimes were mainly investment frauds, accounting for 50% of the cases and around 75% of the total losses. A total of 67 cases of investment fraud led to a loss of Rs 30.3 crore in 2024. Other major cybercrime categories included digital arrest scams (25 cases, Rs 7.1 crore lost), job frauds (8 cases, Rs 1.2 crore lost), and matrimonial frauds (4 cases, Rs 60.4 lakh lost). Online shopping frauds resulted in Rs 5.9 lakh in losses from three cases, while share market frauds led to Rs 41.96 lakh in losses from five cases. Other frauds, including advertisement, KYC, and miscellaneous scams, caused additional losses.

The National Cyber Crime Reporting portal received 5,498 complaints, with 215 cases converted into FIRs. Arrests related to cybercrimes increased in 2023, particularly at other police stations. This year, 42 individuals were arrested for cybercrimes, with 15 from Karnataka and 27 from other states, including Kerala and Tamil Nadu.

To combat cybercrime, 217 awareness programs were held across Mangaluru, targeting various sections of society. These programs were organized at the Police Station, Beat, Sub-division, and Commissionerate levels, helping spread awareness and prevent future crimes.