Telangana loses 60% of cyber fraud losses to investment scams: Shikha Goel
HYDERABAD: Nearly 60% of the financial losses suffered by cybercrime victims in Telangana are linked to stock-trading and business investment frauds, Principal Secretary to the state home department Shikha Goel said at a cybersecurity symposium here on Tuesday.
Goel, who also heads the Telangana Cyber Security Bureau and Telangana Forensic Science Laboratories, said cybercriminals were increasingly studying human behaviour. They use this knowledge to manipulate victims into transferring their own money.
Cyber fraud networks operate across borders
Cyber fraud networks have become highly sophisticated, Goel said. Some operate from outside India, including Vietnam, Myanmar and Cambodia.
These networks work across multiple layers, locations and time zones. Such operations make it difficult for investigators to identify and reach their masterminds.
“They run sophisticated call centres where people from different countries speak in the language of their targets,” Goel said.
Authorities have recovered ₹455 crore lost to cyber fraudsters over the past two years, she said.
“Cybercrime is one of the most organised crimes. At the same time, it is also one of the most preventable crimes. People get trapped because of their fear, greed and ignorance,” Goel said.
She urged people not to assume they could never become cybercrime victims.
“Innocence doesn’t work. If you don’t want to fall prey to cyber fraud, you have to be intelligent. Trust your intelligence. Pause, think and verify before you act,” she said.
It was a pleasure to join Symposium’s Panel Discussion on Cyber Security today in Hyderabad on “When Trust Becomes the Weapon – The New Battle for the Human Mind.”
We discussed the evolving nature of cyber fraud, including digital-arrest scams, deepfakes, social engineering and… pic.twitter.com/aGntybcZlV
— Shikha Goel, IPS (@Shikhagoel_IPS) September 30, 2026
Experts warn against excessive AI dependence
Cyber-law expert and Supreme Court advocate Pavan Duggal warned against excessive dependence on Artificial Intelligence (AI). People should retain the ability to think, question information and make independent decisions, he said.
“God has given you the ability to discern and join the dots. Use that ability. Don’t let that skill die. Don’t use AI for recommendations for every small thing. Keep AI at arm’s length,” Duggal said.
Growing dependence on AI for everyday decisions could weaken human judgement, he warned.
“People are blindly going gaga over AI. They consider it a life coach, but it can become a suicidal coach,” he said. Duggal urged people to exercise caution while using AI-generated information and recommendations.
“Outsourcing all our work to Artificial Intelligence will eventually lead to the decay of the human mind,” Duggal said.
He called for clear legal principles to govern AI and said dedicated laws on AI and deepfakes were needed.
Duggal also highlighted the need for accountability for AI-related harms. People should not treat AI-generated information as unquestionable truth, he said.
He referred to the draft Regulations for Use of Artificial Intelligence (AI) in Courts, 2026, prepared under the aegis of the Supreme Court’s AI Committee. The framework seeks responsible AI use while retaining human and judicial oversight.
“We have become cognitive slaves to AI. Respect the cognitive minds of people,” he said.
Cybersecurity experts focus on human trust
The symposium, titled “Conversation on Cybersecurity: When Trust Becomes the Weapon: The New Battle for the Human Mind”, was organised by Symposium, Hyderabad’s knowledge forum, in collaboration with the Telangana State Police, Telangana Cyber Security Bureau and Cyberabad Police.
More than 200 people attended the programme at Hotel Avasa in Madhapur.
Air Vice Marshal (Dr) Devesh Vatsa, Cyber Security and Critical Technologies Advisor at the Data Security Council of India and a former Indian Air Force officer, moderated the session.
Using an analogy from the Ramayana, Vatsa described the Lakshman Rekha as an original firewall — a boundary designed to protect against a threat.
“Cybercrime is nothing but greed, lust and fear,” he said. Criminals exploit these basic human emotions, Vatsa explained.
“We are entering an era where the weaponising of trust is becoming a strategy,” Vatsa said.
Jiten Jain, CEO of Indian Infosec Consortium, urged people to treat their mobile numbers as sensitive personal information.
He asked people not to routinely share their mobile numbers while shopping or billing. Consumers should also question why businesses collect their numbers and how they could use them later.
“Your mobile number should be extremely personal,” Jain said. He warned that phone numbers could become entry points for social-engineering attempts and identity-related fraud.
Cybersecurity enthusiast and ethical hacker Shubhank Singhai said trust could become a more valuable target for cybercriminals than a server, bank account or government database.
“We spend billions building stronger encryption, better firewalls and smarter detection systems. Yet some of the biggest attacks today don’t begin with malicious code. They begin with a phone call, a message, a familiar face or a voice that sounds just like someone we love,” he said.
Singhai highlighted the growing threats from social engineering, impersonation, cloned voices and AI-generated content.
Speakers said cybersecurity could no longer remain only an information technology issue. It has become closely linked to trust, human behaviour and judgement.
Cybersecurity awareness material unveiled
The programme also saw the unveiling of public-interest cybersecurity videos and awareness creatives prepared in collaboration with the Telangana Cyber Security Bureau.
According to the organisers, the initiative has helped create awareness among nearly 2.95 lakh pensioners and more than 3 lakh serving employees across Telangana.
The videos and awareness material provide practical guidance on preventing cybercrime. Gazetted officers associated with Symposium’s collaborations will later distribute the material, the organisers said.
A paper capturing discussions and insights from the previous edition of the symposium was also presented to Goel.
Focus on safer digital decisions
Symposium managing trustee Shruti Mallpani said the central challenge was human judgement rather than technology.
The forum aims to create conversations that help citizens understand emerging threats and make safer decisions in the digital environment, she said.
