Mumbai lost ₹2,000cr to cyber frauds in just 5 years
India
Between 2020 and 2025, Mumbai saw nearly 20,000 cyber fraud cases—think ATM frauds, card cloning, SIM swap scams, activation tricks, and sneaky OTP sharing.
The total money lost crossed ₹2,000 crore, but barely any of it has been recovered.
Victims struggle while banks and cops fall short
Out of over 4,000 FIRs for card and ATM fraud, SIM swap, cloning, activation, and OTP sharing (₹165 crore gone), only about ₹4.8 crore has been recovered by police.
Many people say banks refused to reimburse them—even when RBI rules suggest they should.
One businesswoman lost ₹2.5 lakh to card cloning; a retired engineer was hit for ₹1.9 lakh by unauthorized transactions.
Even after police busted a gang behind a ₹60 crore scam this August, recovery rates remain disappointingly low.