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ARTICLE · 13 SEPTEMBER 2022

Crypto Crime In India On The Rise: How To Avoid Getting Trapped

FTI Consulting
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In today's increasingly connected digital world, all organisations and individuals are at risk from cyber-related threats.

IndiaTechnology
Avi Das
Avi Das

In today's increasingly connected digital world, all organisations and individuals are at risk from cyber-related threats. Cybercriminals are leveraging vehicles such as crypto/blockchain and other emerging technologies to find sophisticated ways of facilitating fraud, money laundering, terrorist funding and ransomware attacks.

According to CNBC, in 2021, Indian users visited crypto scammer websites over 9.6 million times. The general public's inclination to invest in crypto without the knowledge or understanding of the associated risks, coupled with there being a lack of legal regulation in India, is leading to scammers taking advantage of investors.

Whilst the Internet and Mobile Association of India (IAMAI) has tried to spread awareness of crypto and its associated scams, there is a clear need for investors and corporates to get to grips with the various approaches to dealing with this type of fraud.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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