IIT Madras study finds educated professionals vulnerable to financial cybercrime
Think tech-savvy folks are safe from online scams? Not really, says a new IIT Madras study.
It found that highly educated professionals, like IT workers, bankers, doctors, management and finance professionals, public-sector officers, and people with cybersecurity certifications, were often victims of financial cybercrime.
The research turns the old belief about digital literacy protecting you on its head.
Victims report stress triggers cybercrime losses
After talking to 33 victims from big cities like Chennai, researchers discovered that scammers often strike when people are stressed, like during illness or work pressure.
Losses ranged from a few thousand rupees to more than ₹1 crore and left many dealing with shame and sleepless nights.
The study urges banks and cybercrime units to offer better support instead of just blaming victims and calls for smarter detection systems that understand how fraudsters play on human psychology.