Investment scams account for most cybercrime losses in Telangana, official says
Telangana Cyber Security Bureau director Shikha Goel says almost 60% of money lost by cybercrime victims in the State is connected to stock-trading and investment fraud. She said ₹455 crore had been recovered over two years and urged citizens to verify requests involving money or personal information.
Nearly 60% of money lost by cybercrime victims in Telangana is linked to stock-trading and investment fraud, Telangana Cyber Security Bureau director Shikha Goel said on Tuesday. Goel, who is also principal secretary in the Home department, said ₹455 crore lost to cyber fraudsters had been recovered over the past two years. She was speaking at a cybersecurity symposium in Madhapur attended by more than 200 people.
She said organised cybercrime networks were increasingly exploiting human behaviour rather than relying only on technical weaknesses. According to Goel, fraudsters first gain victims’ trust before persuading them to transfer money or disclose information. She said some networks operate from several countries, including Vietnam, Myanmar and Cambodia, using multiple locations and time zones.
This makes it difficult for investigators to identify and reach those directing the operations. Some syndicates also use call centres staffed by people who speak the languages of their targets. Goel described cybercrime as highly organised but also preventable.
She said fear, greed and lack of knowledge could make people vulnerable and advised citizens to pause, think and verify before responding to requests involving money or personal data. The symposium, titled “When Trust Becomes the Weapon – The New Battle for the Human Mind”, also considered the role of artificial intelligence in cyber threats. Cyber-law expert Pavan Duggal cautioned against excessive reliance on AI for everyday decisions, saying that outsourcing judgement to technology could weaken independent thinking.
Cybersecurity expert Jiten Jain advised people to treat mobile numbers as sensitive personal information. He said routinely sharing numbers at shops and billing counters could create an entry point for social engineering and identity fraud. The event included the launch of cybersecurity-awareness videos and materials prepared with the State bureau.
Organisers said the initiative had reached nearly 2.95 lakh pensioners and more than three lakh serving employees across Telangana.
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