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| 1 minute read

Crypto Crime in India on the Rise: How to Avoid Getting Trapped

In today’s increasingly connected digital world, all organisations and individuals are at risk from cyber-related threats. Cybercriminals are leveraging vehicles such as crypto/blockchain and other emerging technologies to find sophisticated ways of facilitating fraud, money laundering, terrorist funding and ransomware attacks.

According to CNBC, in 2021, Indian users visited crypto scammer websites over 9.6 million times. The general public's inclination to invest in crypto without the knowledge or understanding of the associated risks, coupled with there being a lack of legal regulation in India, is leading to scammers taking advantage of investors. 

Whilst the Internet and Mobile Association of India (IAMAI) has tried to spread awareness of crypto and its associated scams, there is a clear need for investors and corporates to get to grips with the various approaches to dealing with this type of fraud.

Organisations and regulatory bodies would benefit from leveraging specialist consulting firms, which can keep them informed of the different approaches scammers can take in order to plan to mitigate those threats. 

The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting, Inc., its management, its subsidiaries, its affiliates, or its other professionals. 

FTI Consulting, Inc., including its subsidiaries and affiliates, is a consulting firm and is not a certified public accounting firm or a law firm. 

Cryptocurrencies have found millions of early adopters in India, and the number of people jumping on the crypto bandwagon is increasing exponentially every day.


cryptocurrency, blockchain, financial crime, investigations