India Lost ₹22,845 Crore to Cybercrime in 2024, Experts Call for Urgent Overhaul of Digital Security

India faced massive financial losses from cybercrime in 2024, with experts warning that the growing scale and sophistication of attacks require an urgent upgrade of the country’s digital security and investigation systems.

Speaking at a national conference on “Cybersecurity, Digital Forensics and Intelligence” at Gauhati University on Wednesday, Microsoft’s Head of Public Sector, Keshri Kumar Asthana, revealed that cyber fraud caused losses of ₹22,845 crore last year — a sharp 205.6% increase from 2023.

He said over 36 lakh financial fraud cases were reported in 2024 alone.
Asthana also noted that 20.5 lakh cybersecurity incidents were reported to India’s national nodal agency CERT-In in 2024, up from 15.9 lakh the previous year, showing how rapidly cyber threats are rising.

According to him, the average cost of a data breach in India in 2025 has reached ₹22 crore, the highest ever recorded. He added that 83% of organisations in the country have suffered more than one data breach.

“The cost is high because incidents are being detected too late,” Asthana said. “Attackers are not thinking in straight lines but in complex graphs. Our defence must also think in graphs to counter them.”

At the conference, Shreekrishna Ashutosh of Cellebrite highlighted serious challenges in digital investigations. He said 50% of agencies face case backlogs every year, and 60% of investigators still depend on outdated methods.
On average, he added, officers spend 69 hours reviewing digital evidence in each case.

Experts warned that most cyberattacks targeting India are originating from “non-friendly countries”. They emphasised the need for AI-driven defence systems, better investigation tools, and stronger public awareness to reduce cybercrime.

They pointed out several bottlenecks slowing digital investigations — such as poor IT infrastructure, disconnected data systems, incomplete evidence extraction and limited remote access. These, they said, can be improved through modern AI tools and better training.

The two-day conference has been organised by NIELIT Assam & Nagaland under the Ministry of Electronics and IT, in association with Assam Police and Gauhati University, and supported by the Assam IT Department and the United Service Institution of India.

This year’s theme, “Cyber Secure Bharat: Fortifying India’s Digital Future,” highlights the growing national focus on digital safety.

Delivering the welcome address, L. Lanuwabang, Director of NIELIT Assam & Nagaland, said the conference’s expansion from Kohima to Guwahati will help more people from the Northeast participate.

“Cyber Secure Bharat is not just a theme; it is a national mission,” he said. “A secure India is the foundation of a strong digital future.”

The event features over 30 speakers and has drawn more than 300 delegates from government departments, police forces, the judiciary, academia, industry and other sectors.