India’s Cybercrime Shock: Surat Emerges as Fraud Hotspot

AHMEDABAD : Cybercrime in India is no longer a distant digital threat—it is rapidly becoming an organised financial crime ecosystem, with reported cases rising nearly fivefold in seven years. A capstone study by students of IIM Ahmedabad’s PGD-ABA programme has flagged the growing vulnerability of Surat, particularly to technology-driven financial fraud.

The study, “National Cyber Crime Landscape (2017–2024): Evidence from NCRB Data & A Deep-Dive Case Study of Surat City’s Financial Frauds,” analyses National Crime Records Bureau data from 2017 to 2024 and 1,136 cases registered by the Surat Cyber Crime Cell between 2023 and 2026.

According to the study, reported cybercrime cases in India increased from around 22,000 in 2017 to more than 1.02 lakh in 2024, marking an almost fivefold rise.

The five-member research team comprises Ashish Mathur, Abhishek Saverna, Bhaskar Acharya, Pankaj Gandhi and Karnav Mehta. Gandhi and Mehta are from Surat, adding a local perspective to the city-specific analysis.

Karnataka recorded the highest number of cases among the states analysed, at around 96,000, followed by Telangana with 81,000, Uttar Pradesh with 75,000 and Maharashtra with 49,000.

The Surat analysis found that nearly 87% of the 1,136 cases were concentrated in 2024 and 2025. Senior citizens, retired NRIs, MSME owners and high-net-worth individuals emerged among the important target groups.

The study highlights the growing use of money-mule accounts, including accounts linked to unemployed individuals and Jan Dhan account holders. In some cases, account holders were allegedly offered around ₹10,000-₹15,000 a month to facilitate transactions.

Cybercriminals, the study notes, increasingly exploit both greed and fear. Fake VIP tickets, lotteries and cryptocurrency schemes are used to lure victims, while digital arrests, fake customs demands and defamation threats are deployed to intimidate them.

“Cybercrime is no longer merely an issue of individual hacking but is evolving into an organised financial crime ecosystem,” the study states.

UPI and debit/credit card fraud feature prominently in Surat’s financial fraud landscape, while fraud calls and phishing, despite lower volumes, can result in higher financial losses per case.

The study warns that AI, deepfakes, VPN masking, cryptocurrency transactions and cross-border networks are creating new investigative challenges. It recommends a dedicated cybercrime legal framework, specialised techno-legal personnel, advanced forensic laboratories, cyber courts and stronger coordination among banks, agencies and international institutions.

Its predictive modelling also found the Gradient Boosting model performed strongly, recording an R² of 0.9508, suggesting that historical crime data could help identify emerging cybercrime hotspots and improve preventive action.