Chennai: Not just people with poor digital literacy fall prey to cyber fraud. Highly educated individuals with experience in using digital services can also fall victim to such crimes, a new study led by IIT Madras has found.The study examined 33 financial cybercrime victims in five cities — Chennai, Bengaluru, Mumbai, New Delhi and Hyderabad. The victims included IT professionals, investment bankers, doctors, public-sector officials and others with expertise in information technology, finance and cybersecurity.They were targeted through scams, including fake digital arrest threats, investment fraud, task-based fraud, and payment scams. Their financial losses ranged from a few thousand rupees to more than ₹1 crore. Several victims reported shame, insomnia, depression, and strained relationships with family members.“Our findings show that even highly educated people who use smartphones, online banking, UPI, and other digital services can become vulnerable,” said professor Nandan Sudarsanam of the Wadhwani School of Data Science and Artificial Intelligence at IIT Madras.Professor P Kandaswamy, a retired IPS officer and adjunct faculty member at the department of data science and AI at IIT Madras, said fraudsters often exploited victims during periods of personal stress and disruption.“Victims were approached when they were dealing with illness, family responsibilities, retirement, job-related pressure or financial uncertainty. Scamsters then used fear, urgency, coercion and promises of financial gain to influence their decisions,” he said.Researchers conducted semi-structured interviews with victims from varied age groups, genders and socio-economic backgrounds. The study was recently published in Humanities and Social Sciences Communications.The research team also included Akanksha Jaiswal, from the University of Western Australia, Chennai campus, and Ameeta Fernando of the Loyola Institute of Business Administration.“The response to cybercrime must move beyond blaming victims. Banks and law-enforcement agencies need stronger systems for early detection, rapid intervention, and coordinated response, along with better support for victims,” Kandhaswamy said.The researchers recommended moving beyond generic “be careful online” messaging and adopting targeted awareness campaigns based on specific fraud tactics and vulnerable situations.
