Ten months after launching the online ‘suspect registry’ system, the Centre has declined 13 lakh fraudulent transactions and saved Rs 5,111.80 crore. The registry, created based on the National Cybercrime Reporting Portal (NCRP) and developed by Indian Cyber Crime Coordination Centre (I4C), contains data of 1.4 million cybercriminals linked to financial fraud and various cyber-crimes, which has been shared with all banks. Launched by Union Home Minister Amit Shah on September 10 last year, it can be accessed by States/ UTs and central investigation and intelligence agencies. Data accessed by The Indian Express shows they have frozen around 3,54,884 accounts in which fraudulent money was received, 11,10,566 unique accounts identified, and Rs 5,111.80 crore saved after fraudulent transactions were rejected between September 2024 and August 1 this year. “Around 14.13 lakh people data have been shared by the banks/ financial institutions in the system, and data of around 13.06 lakh suspects identifiers were shared with the banks/ financial institutions by the Centre,” a senior government official said. There are 61 banks/ financial institutions onboard the suspect registry system. The official said that among them, “35 private sector-Indian banks, 12 nationalised banks, six regional rural banks, six wallet/ merchant and one private sector bank-foreign bank”. “The objective of the system is to help all the banks/ financial institutions to verify credentials of their customers before extending or giving any sort of financial services to them. With the help of a suspect registry, now the banks/ financial institutions can monitor money transactions going into suspected accounts in real-time.,” an official said An analysis by agencies has revealed that this year, India is losing over Rs 1,000 crore monthly to cyber frauds. “In January, Rs 1,837 crore was cheated, Rs 1,573 crore in February, Rs 1,683 in March, Rs 1,314 crore in April, Rs 1,644 crore in May, Rs 1,584 crore in June and Rs 1,829 crore in July. Analysis also shows that more than 80% of cheating cases are recorded in the financial fraud category,” the official said. An official said Rs 15.03 crore was refunded in January 2025, Rs 9.48 crore in February, Rs 9.87 crore in March, Rs 15.75 crore in April, Rs 14.60 in May, Rs 18.45 crore in June and Rs 11.73 crore in July.
