India ranked second globally in terms of being the most-targeted nation for crypto attacks in 2024, with 95 incidents, following the U.S., finds the study.
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The report, The State of AI-Powered Cybercrime: Threat & Mitigation Report 2025, recently released by the Global Initiative for Restructuring Environment and Management (GIREM), in partnership with automotive retail technology company Tekion, has highlighted how Artificial Intelligence (AI) is becoming a formidable tool in the hands of cybercriminals.
According to the report, AI tools were involved in approximately 82.6% of all phishing emails, positioning AI in nearly eight out of every 10 phishing campaigns. In addition to the email text, AI is used to spin up realistic dashboards, register typo-squatting domains, and create dynamic, interactive phishing pages, making these attempts far more convincing and effective, it states.
The study was officially unveiled by Dr. M.A. Saleem, Director-General & Inspector-General of Police of Karnataka.
Escalating crimes
The report recorded a trend of escalating cybercrimes and unprecedented financial losses in the country. According to it, India registered over 19.18 lakh cybercrime complaints in 2024, up from 15.56 lakh in 2023, reflecting a tenfold jump since 2019.
“Financial fraud remains the dominant motive, with Indian citizens losing an unprecedented ₹22,812 crore to cybercrime in 2024, nearly three times the losses recorded in 2023 (₹7,496 crore) and almost ten times that of 2022 (₹2,306 crore). Over the past four years, cybercriminals have siphoned off a staggering ₹33,165 crore from individuals and businesses across the country, with ‘digital arrest’ fraud alone contributing nearly ₹1,936 crore loss in 2024,” it noted.
India ranked second globally in terms of being the most-targeted nation for crypto attacks in 2024, with 95 incidents, following the U.S. The country has also witnessed significant year-on-year increases in malware (11%), ransomware (22%), Internet of Things (IoT) attacks (59%), and an overall staggering 409% surge in crypto attacks.
Vulnerable population
The report also observed that senior citizens, women, and children are increasingly targeted by specific forms of cybercrime, including financial scams, harassment, and blackmail.
In Karnataka, while Bengaluru saw a 77% increase in cybercrimes, cases in rural Karnataka nearly doubled (880 in 2022 to 1,600 in 2024). Tribal areas reported 12 cases in 2024 as against none in 2022. It has been found that cybercriminals have been increasingly deploying fake applications that mimic government platforms or bank helpdesks to install malware and steal sensitive data, including UPI IDs and PINs.
Strengthening cyber resilience
Increased digital literacy in schools, improved police training, mandatory cybersecurity education in the workplace, establishing cybersecurity labs in educational institutions, developing AI-based threat detection tools, monitoring cyberterrorism, and enhancing alert mechanisms for preparedness are some of the recommendations the report provides to enhance cyber resilience.
“Cybercrimes are increasingly penetrating society, targeting even vulnerable senior citizens. Awareness must be created to educate society about the emerging threats. Karnataka has been at the forefront of tackling cybercrimes. This report will complement our efforts,” said Mr. Saleem releasing the report.
Published – June 25, 2025 08:48 pm IST
