New Delhi, March 13 -- Cybercriminals are on the prowl as Muslims observe fasting during Ramadan, with an alarming rise in cryptocurrency and e-commerce scams, according to the latest report.

Practising Muslims give away charities during Ramadan, something which criminals are exploiting, the report said.

"Ramadan is synonymous with goodwill and charitable donations, making it a prime target for malicious actors. Cybercriminals are leveraging religious sentiments to trick unsuspecting donors and investors into fraudulent schemes, draining digital wallets, and stealing sensitive financial information," the report by CloudSEK, an AI-driven cybersecurity firm, said.

Muslims worldwide observe dawn-to-dusk fasting for 30 days during Ramadan,...