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Hyderabad : A 23-year-old private firm employee in Hyderabad fell victim to a ₹12 lakh parcel scam, following which the Hyderabad Cyber ​​Crime police began investigations. In the scam, the victim was given false information about the misuse of his Aadhaar number to courier parcels from Mumbai to Saudi Arabia, which allegedly contained illegal substances and diabetes pills. Also read: online payment Online payment fraud: Beware of these five most common scams in India that everyone should know to protect their money, the report said

The fraudsters threatened the victim during a Skype video call and forced him to transfer money under the guise of confirming his innocence. Officials urged victims of such cyber financial frauds to immediately report the incidents through the cyber crime helpline number 1930 or cybercrime.gov.in. Help is also available through WhatsApp on 8712665171. Also read: ₹5.2 crore siphoned off in one click: Bengaluru man duped by online fraudsters via WhatsAppEarlier in May, the Reserve Bank of India's annual report highlighted a sharp rise in fraud cases in the banking sector, with the number of cases rising by nearly 300% to 36,075 during the financial year 2023-24 (FY24).

Despite the significant increase , the total amount involved in frauds declined from ₹45,358 crore in FY22 to ₹13,930 crore in FY24. According to the report, online fraud cases have increased by 708% to 29,082 in the last two years. The rising number of fraud cases coincides with an increase in the amount of fraud through internet banking/cards. The amount of money swindled online by fraudsters grew by 145% to ₹1,457 crore in two years.