Cuttack, Jan 10: Cops from Cyber Police Station in Cuttack arrested seven members of an inter-state cyber fraud gang, including four bank employees, for allegedly duping people by circulating fraudulent investment links on Telegram, police said on Saturday.

According to the police, the accused lured victims with offers of “high returns at low investment” and targeted people across Odisha, Uttar Pradesh and Bihar. The fraudsters allegedly sent deceptive links through Telegram channels and persuaded victims to transfer money on the pretext of quick profits.

Police identified the prime accused as Bablu Nayak, who allegedly used the proceeds of the fraud to build a luxury house in Bhubaneswar and owned high-end cars.

Seizures and Financial Freeze
During raids, police seized 69 mobile phones, four laptops, three desktops, 215 SIM cards, 554 bank passbooks, 702 debit and credit cards, one four-wheeler and two two-wheelers.

Additionally, Rs 90 lakh across multiple bank accounts linked to the accused has been frozen, officials said.

The arrests and recoveries were disclosed at a joint press conference addressed by the Police Commissioner S Dev Datta Singh and Cuttack Deputy Commissioner of Police Khilari Rishikesh Dnyandeo.

Rising Cybercrime Numbers in India
Cybersecurity incidents in India have seen a sharp rise, increasing from 10.29 lakh cases in 2022 to 22.68 lakh cases in 2024, reflecting the growing scale and sophistication of digital crimes.

The financial impact is also mounting. As of February 28, 2025, cyber fraud losses worth Rs 36.45 lakh have been reported on the National Cyber Crime Reporting Portal (NCRP).

Emerging Cyber Threats
Investigators warn that techniques such as spoofing, where fraudsters impersonate trusted entities, are increasingly common.

Cases involving phishing and AI-generated deepfakes are also on the rise, significantly amplifying the reach and impact of cyber scams.

India’s widely used Unified Payments Interface (UPI) has also come under attack, with fraudsters exploiting compromised mobile numbers. To counter this, the Department of Telecommunications (DoT) has introduced the Financial Fraud Risk Indicator (FRI), classifying suspicious numbers as Medium, High or Very High risk.

Authorities have also flagged the growth of illegal online betting apps, which lure users with false promises of high returns and have generated over ₹400 crore in criminal proceeds.

Cybersecurity Measures and Government Response
The Union Budget 2025 has allocated Rs 782 crore for cybersecurity initiatives, underlining the government’s focus on countering digital threats.

Through the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS), banks have been able to save more than Rs 5,489 crore across 17.82 lakh complaints, officials said.

Reporting Cybercrime
The government has urged citizens to report cyber offences through the National Cyber Crime Reporting Portal (www.cybercrime.gov.in).

Victims of online financial fraud can also seek immediate help by calling the cybercrime helpline number 1930, which facilitates quick reporting and, where possible, freezing of fraudulent transactions.

Also Read: Odisha Woman Doctor Loses Rs 12 Lakh In Digital Arrest Cyber Scam

Police have advised the public to remain cautious of unsolicited investment offers and suspicious links circulating on messaging platforms.