A businessman recently walked into our office, visibly shaken. He had just lost nearly ₹2 crore to what seemed like a legitimate trading platform.
The fraud had all the hallmarks of authenticity:
- A sleek trading application that mirrored real stock market dashboards
- Active WhatsApp groups filled with “investors” sharing profits
- Fabricated SEBI notices and convincing communication from supposed advisors
By the time he realised it was a scam, the money had already moved through multiple accounts. He brought us everything he could — bank slips, WhatsApp chats, screenshots, even records of his trading portfolio.
We knew the only chance lay in acting quickly. Within hours, we:
- Filed a complaint on the National Cyber Crime Reporting Portal, uploading all supporting documents
- Escalated the matter to the Cyber Crime Police Station and senior officers
- Ensured an FIR was registered and fund flow alerts were triggered
Within 24 hours, some transactions were traced and frozen. While the damage was severe, immediate reporting created a window for recovery.
This case is not unique. It reflects a much larger trend: the rise of organised cybercrime targeting unsuspecting individuals and businesses across India.
The digital economy has transformed the way we transact, invest, and conduct business. But with opportunity comes risk. India is witnessing a surge in cybercrimes ranging from phishing and identity theft to sophisticated financial frauds and ransomware attacks.
Common Cybercrime Schemes
Cybercriminals deploy varied methods to target victims. The most common include:
- Phishing and Impersonation: Emails, messages, or fake websites designed to steal credentials, OTPs, and banking details.
- Investment and Trading Scams: Fraudulent apps and social media groups projecting fabricated profits to solicit large transfers.
- Identity Theft and Account Takeover: Misuse of personal information to obtain credit, open accounts, or impersonate individuals.
- Ransomware and Malware Attacks: Breach of computer systems, encryption of data, and extortion demands for release.
- Business Email Compromise (BEC): Impersonation of executives or vendors to divert legitimate corporate payments.
These operations combine technical deception with social engineering, making them difficult to detect until losses occur.
The Legal Framework
Cybercrime in India is prosecutable under multiple laws, including:
- Information Technology Act, 2000 (as amended):
- Section 66C – Identity theft
- Section 66D – Cheating by personation using computer resources
- Sections 43 & 66 – Unauthorized access and damage to computer systems
- Bharatiya Nyaya Sanhita:
- Cheating
- Criminal breach of trust and forgery of electronic records
- Sectoral Regulations: SEBI, RBI, and CERT-In guidelines place obligations on regulated entities and intermediaries.
When carried out through organised networks, these crimes also fall under provisions dealing with organised financial crime and conspiracy.
Immediate Steps for Victims
Time is often the deciding factor in cybercrime cases. Victims should:
1️⃣ Dial 1930 – National Cyber Crime Helpline (for immediate intervention)
2️⃣ File a complaint on the National Cyber Crime Reporting Portal
3️⃣ Approach the nearest Cyber Crime Police Station with transaction records, bank statements, and communication evidence
Golden Hour: Reporting within the first few hours significantly improves the chances of tracing and freezing funds before they are layered into multiple accounts.
Conclusion
Cybercrime is no longer a peripheral risk—it is a mainstream threat to individuals and businesses. While our laws provide remedies, outcomes depend heavily on swift reporting, robust documentation, and coordinated engagement with law enforcement.
Our experience assisting clients in such matters reinforces one principle above all: speed and vigilance are the strongest defenses. At A&T Law Partners, we help victims navigate cybercrime response, ensure that legal rights are asserted, and work with law enforcement to improve the prospects of recovery.