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Nearly 60% of the money lost by cybercrime victims in Telangana is linked to stock-trading and investment frauds, while ₹455 crore lost to cyber fraudsters has been recovered over the past two years, said Principal Secretary, Home, and Telangana Cyber Security Bureau Director, Shikha Goel.
Speaking at a cybersecurity symposium in Madhapur on Tuesday, the officer said that organised cybercrime networks were increasingly relying on human behaviour rather than merely technological vulnerabilities, gaining victims’ trust before manipulating them into transferring money.
Fraud networks have also grown more sophisticated, with operations being run from countries including Vietnam, Myanmar and Cambodia. They operate across multiple locations and time zones, making it difficult for investigators to reach those controlling the networks, she said.
Some syndicates operate sophisticated call centres staffed by people who speak the languages of their intended targets. “Cybercrime is one of the most organised crimes. At the same time, it is also one of the most preventable crimes,” Ms. Goel said, adding that fear, greed and ignorance often leave people vulnerable. She advised people to pause, think and verify before responding to requests involving money or personal information.
The discussion, titled ‘When Trust Becomes the Weapon – The New Battle for the Human Mind’, was attended by more than 200 people and also focused on the increasing role of artificial intelligence in cyber threats.
Cyber-law expert and Supreme Court advocate Pavan Duggal cautioned against excessive dependence on AI for everyday decision-making, arguing that outsourcing tasks and judgement to technology could gradually erode people’s ability to think independently.
Cybersecurity expert Jiten Jain, meanwhile, advised people to treat their mobile numbers as sensitive personal information rather than routinely sharing them at shops and billing counters. Such information could become an entry point for social-engineering and identity-related fraud, he said.
Speaking in her opening remarks, Shruti Mallpani, managing trustee, Symposium, said the real battle is not technology, it is human judgement. She said the objective of the forum was to create conversations that help citizens understand emerging threats and make safer decisions in the digital environment.
The programme also saw the unveiling of cybersecurity awareness videos and material prepared in collaboration with the Telangana Cyber Security Bureau. Organisers said the initiative had helped create awareness among nearly 2.95 lakh pensioners and more than three lakh serving employees across the State.
Nearly 60% of the money lost by cybercrime victims in Telangana is linked to stock-trading and investment frauds, while ₹455 crore lost to cyber fraudsters has been recovered over the past two years…