Cyber crimes cost India Rs 50,000 crore in 2012: Herold

 

An acclaimed investigator and director of Pune-based Intelligent Quotient Security System, Dr Herold D’Costa, disclosed that last year, India incurred a loss of Rs 50,000 crore due to the cyber crimes and in the year 2011 it was around Rs 34,100 crore. Speaking to ‘The Navhind Times’, Dr D’Costa, informed that India stands 11th in the world as far as the cyber crimes are concerned and 3 per cent of world’s cyber crimes take place in India. He said, "We are increasing anti-cyber financial fraud steps/ measures drastically so that the hard earned money of the people remain safe and secure from such cyber criminals, who are on the prowl in every nook and corner of the globe." "Most of the cyber financial frauds take place through credit cards or Internet transactions as our country is lacking in cyber security measures and do not know what steps to be taken and these frauds could be prevented,"
he added. He said most of the victims are those who buy things online or those who go abroad, adding when they come back their credit cards were found to have been misused; the reason: when an Indian goes abroad and swipes credit card at a mall or at a super market inadvertently, the data is stored in the skimmer. [NT]