Cyber fraud proceeds at ₹34K-cr: ED

The Enforcement Directorate (ED) has uncovered a staggering ₹34,855 crore in illicit proceeds stemming from cybercrimes, highlighting the increasing threat posed by digital fraud in India. Among this amount, ₹12,229 crore has been provisionally attached as part of ongoing investigations into various scams and money laundering operations. The ED's findings underscore the urgent need for enhanced cybersecurity measures and stricter regulatory frameworks to combat the growing prevalence of cyber fraud, which has escalated significantly in recent years. These revelations come amidst rising concerns among the public and authorities regarding the vulnerability of digital financial systems and the sophistication of cybercriminals. The ED's efforts are part of a broader initiative to tackle financial crimes and ensure accountability in the digital economy, as the agency intensifies its crackdown on illegal financial activities.