AI becomes a new tool for cybercrime, India faces a loss of ₹23,000 crore in 2024
Artificial Intelligence (AI) tools have emerged as a new method in cybercrime.
India is advancing in the digital age, but cybercriminals are also evolving at the same pace. AI tools have now become a key method used in cybercrime. In India, AI was used in 8 out of 10 cyber fraud cases. According to a report, India alone suffered a loss of $2.78 billion (approx. ₹23,000 crore) due to digital fraud in 2024. Here’s a detailed look.
Several findings about cybercrime were revealed in a joint report titled “The State of AI-Powered Cybercrime: Threat & Mitigation Report 2025” by GIREM (Global Initiative for Restructuring Environment and Management) and automotive tech company Tekion. The report was presented in Bengaluru on Wednesday by Karnataka Director General and Inspector General of Police (DG & IGP) M. A. Salim.
The report highlights that cybercriminals are using AI tools to send precisely crafted phishing emails to hotel chains and restaurants. These often mimic big brands using AI-generated templates. Beyond emails, AI is also used to create fake dashboards, register deceptive domains, and build interactive phishing pages that trick users into believing they are legitimate. The report notes that 80% of phishing emails in India now involve the use of AI, meaning 8 out of every 10 such cases rely on these tools.
According to the report, over 1.91 million cybercrime complaints were filed in India last year, compared to 1.55 million in 2023—a figure that is ten times higher than the number of cases reported in 2019. The majority of these were related to financial fraud. In 2024, Indians lost $2.78 billion to cybercrime—almost three times more than in 2023 and nearly ten times more than in 2022.
India is now the second most affected country in the world after the US in terms of crypto attacks, with 95 incidents reported in 2024. The report also notes an 11% rise in malware, 22% in ransomware, and 59% in IoT attacks, while crypto attacks surged by 409%. Most of the victims of these attacks belong to vulnerable groups, including senior citizens, children, and women.
With India expected to have over 900 million internet users by 2025, tackling cybercrime has become a major challenge for the country.