How Home Ministry's Suspect Registry Helped India Thwart Rs 5,000-Crore Cyberfraud Attempts

The Centre’s online suspect registry, launched by Union Home Minister Amit Shah in September 2024, has helped block 13 lakh fraudulent transactions within 10 months, preventing losses worth Rs 5,111.80 crore, The Indian Express reported.

Developed by the Indian Cyber Crime Coordination Centre (I4C) using data from the National Cybercrime Reporting Portal (NCRP), the registry consolidates details of nearly 1.4 million individuals linked to financial and cyber frauds.

This information has been shared with 61 banks and financial institutions, enabling real-time monitoring of suspicious transactions.

According to the data reviewed by The Indian Express shows that authorities have frozen 3.54 lakh accounts receiving fraudulent funds and flagged over 11.1 lakh unique accounts as suspicious.

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A senior official noted, “Around 14.13 lakh people's data have been shared by the banks/ financial institutions in the system, and data of around 13.06 lakh suspect identifiers were shared with the banks/ financial institutions by the Centre.”

Currently, the system includes 35 private sector Indian banks, 12 nationalised banks, six regional rural banks, six wallet/merchant platforms, and one foreign private sector bank. The registry is also accessible to state governments, Union Territories, and central investigation and intelligence agencies.

Officials said the platform allows banks to cross-check customer credentials before extending financial services and to track suspicious accounts in real time.

Despite these measures, cybercrime continues to cause significant losses. Agencies estimate India loses over Rs 1,000 crore each month to online fraud, with financial scams accounting for more than 80 per cent of cases.

In the first seven months of 2025 alone, reported cheating ranged between Rs 1,300 crore and Rs 1,800 crore monthly. Refunds remain modest, averaging between Rs 9 crore and Rs 18 crore per month.

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