New Delhi, March 10 -- Losses due to cyber frauds have surged nearly 10-fold in a decade, Pankaj Chaudhary, minister of state in the Union finance ministry, said on Monday.

Responding to a question in the Lok Sabha, Chaudhary said losses due to cyber frauds increased to Rs.177.05 crore in 2023-24 from Rs.18.46 crore in 2014-15. In the first nine months of FY25 (April-December 2024), losses due to cyber frauds stood at Rs.107.21 crore.

The number of cyber frauds involving Rs.1 lakh or higher surged to 29,082 in FY24 from 815 in FY15, he added. In the first nine months of FY25, this number stood at 13,384.

"With increasing digital payment transactions in the country, incidences of fraudulent practices, including digital payment frauds, h...