Visakhapatnam Faces Daily Losses of ₹25-27 Lakh to Online Financial Frauds in February 2026
In a startling revelation, citizens of Visakhapatnam, commonly known as Vizag, collectively lost between ₹25 and ₹27 lakh every single day to online financial frauds during February 2026. This alarming trend highlights the growing menace of cybercrime in the city, with most complaints linked to two primary types of scams: investment frauds driven by greed and digital arrest frauds fueled by fear. Despite efforts, police struggled to recover the stolen amounts, underscoring the challenges in combating such sophisticated crimes.
Total Losses Exceed ₹7.6 Crore as Scammers Adopt New Tactics
Over the course of the month, residents suffered a staggering total loss of more than ₹7.6 crore to cybercriminals. Scammers continuously evolved their methods, adopting new and deceptive tactics to exploit victims. The cybercrime police station in Visakhapatnam registered 14 First Information Reports (FIRs), which covered over 70 individual complaints from various parts of the city. These cases reflect a diverse range of fraudulent activities, each contributing to the substantial financial damage.
Breakdown of Fraud Cases and Their Financial Impact
The registered FIRs reveal a detailed pattern of online frauds:
- Online Trading Scams: Three FIRs were related to online trading scams, resulting in victims losing over ₹3.5 crore. These scams often promised high returns on stock investments, luring individuals with the prospect of quick profits.
- Digital Arrest Fraud: One FIR involved a digital arrest fraud, where a victim was cheated out of more than ₹1 crore. In such cases, fraudsters pose as law enforcement officials to instill fear and extort money.
- APK Frauds: Another three FIRs were linked to APK frauds, with losses amounting to approximately ₹1 crore. These scams typically involve malicious applications that compromise personal and financial data.
- Other Scams: The remaining cases included job scams, fraudulent credit card offers, and fake online shopping deals, further diversifying the threat landscape.
Investment Scams Dominate, Accounting for Over 45% of Total Losses
Investment scams alone were responsible for more than 45% of the total financial losses in February 2026. A senior police officer noted that greed for quick returns was a key driver, with victims falling into traps that promised high-paying stocks and easy profits. Despite ongoing awareness campaigns, many individuals, including senior citizens, continued to be vulnerable. For instance, a retired professor was cheated of over ₹1 crore by criminals impersonating CBI and ED officials, who falsely accused him of unlawful activities to coerce payment.
Police Stress Urgency in Reporting and Use of Helpline
Police explained that fraudsters frequently used video calls to threaten victims with arrest, leveraging fear to facilitate their schemes. They emphasized the critical importance of timely reporting, noting that if victims report the crime within one hour, funds can often be frozen and legally returned. Authorities urged the public to immediately contact the dedicated 1930 helpline for financial cyber frauds to maximize chances of recovery. While overall financial damage showed a slight decline compared to January's ₹12 crore, the persistent high daily losses indicate that vigilance and prompt action remain essential in the fight against online fraud.
