Cybercrime is evolving rapidly, with fraudsters employing increasingly sophisticated tactics. Recently, a new scam has surfaced involving fake digital arrests and courier fraud, with a particularly alarming example involving a fraudulent message purporting to come from the Chief Justice of India, DY Chandrachud.
The Latest Scam: Impersonating the Chief Justice
A recent viral post on the microblogging platform X showcased a scammer pretending to be Chief Justice DY Chandrachud. The message claimed that the CJI was stranded at Connaught Place and urgently needed ₹5,000 for a cab, assuring the sender that the money would be returned once he reached the court. The message, filled with spelling and grammatical errors, highlights the audacity and deceitful nature of modern cyber fraudsters.
Supreme Court’s Response and Rising Concerns
The Supreme Court has responded to this scam by filing a complaint of cyber fraud, following the Chief Justice’s instructions. This incident is part of a broader trend where individuals have lost significant sums due to sophisticated digital scams.
Surge in Financial Fraud Reports
Recent data from the Reserve Bank of India (RBI) indicates a dramatic increase in financial fraud cases. According to the RBI’s annual report released on May 30, the number of reported financial frauds surged by 166% year-on-year for the financial year 2023-24, reaching 36,075 cases. This marks a sharp rise from the 13,564 cases reported in the previous fiscal year.
RBI’s Initiative to Combat Digital Fraud
In response to the growing fraud risk, the RBI has proposed establishing a ‘Digital Payments Intelligence Platform.’ This platform aims to leverage advanced technologies to better detect and mitigate payment fraud risks, addressing the escalating challenge of cybercrime.
The increase in cyber fraud cases underscores the urgent need for enhanced digital security measures and vigilance among individuals to protect themselves from sophisticated scams.
