Odisha Cybercrime Losses Hit ₹370 Cr (2023–2025): How Mule Accounts Stall Recovery

29 Sep 2026, 10:29 by Vinay Kakkad · KalingaTV

Bhubaneswar: Victims of cybercrime in Odisha have clawed back barely a fraction of the funds siphoned from their bank accounts over a three-year span, highlighting an operational mismatch between fast-moving illicit networks and state enforcement.

Responding on the floor of the Odisha Legislative Assembly to a query raised by MLA Pradyumna Kumar Nayak, Chief Minister Mohan Charan Majhi revealed that citizens lost approximately ₹370.72 crore to cyberfraud between 2023 and 2025. Law enforcement agencies and financial institutions managed to recover nearly ₹9.97 crore across that period.

During these three years, the state registered 7,652 cybercrime cases, as reported by The Times of India.

The stark disparity between stolen balances and reclaimed capital is largely driven by the speed with which criminal syndicates disperse funds. According to police officials, once an unauthorized transaction occurs, the illicit proceeds are rapidly routed through layers of mule accounts across diverse banking institutions before being withdrawn as cash.

By the time investigators unravel the transaction trail and coordinate with financial institutions, the money is often gone. Usually the critical window for intervention narrows sharply when victims hesitate to report an incident, whereas early alerts significantly enhance the likelihood of freezing intermediary accounts and halting transactions mid-transit.

When victims delay reporting, laundering syndicates gain the runway necessary to fragment the capital beyond the reach of state borders.

Investigators noted that the primary vectors behind these losses involve part-time employment scams, fraudulent share-trading schemes, bogus online investment portals, digital arrest operations, and cryptocurrency fraud. Despite varying scripts, each ploy relies on social engineering—manipulating victims into voluntarily executing transfers or handing over account access.

Even the ₹370.72 crore figure reported on the Assembly floor may understate the true financial footprint. A cybersecurity expert observed that total statewide losses are likely significantly higher because numerous defrauded individuals never approach law enforcement. The expert attributed the steady rise in scam volumes to persistent deficits in public digital literacy, amplified by aggressive pitches promising instant, outsized investment yields.

To mitigate further drainage of consumer wealth, police authorities have urged anyone targeted by financial scams to alert officials immediately. Victims should dial the national 1930 cybercrime helpline and submit a report via the central government’s National Cyber Crime Reporting Portal at cybercrime.gov.in before lodging a formal written complaint, ensuring that authorities can move swiftly to block transactions and preserve the trail of stolen funds.