An individual lured his own relatives, friends, and acquaintances into investing in his company with the promise of high returns. The police arrested the accused and launched an investigation into the scam, which had been running for an extended period under the guise of investment schemes. So far, the accused has allegedly defrauded at least three to four individuals, amassing over Rs 24 lakh. Gujarat has experienced a significant surge in financial fraud cases in recent years, reflecting a concerning trend in cyber and banking-related crimes. Between January 1 and December 15, 2024, Gujaratis lost approximately Rs 1,288 crore to online fraud. This period saw a daily average of 333 cyber fraud cases, translating to over 13 incidents every hour. The state’s police have successfully frozen Rs 285.12 crore in various bank accounts linked to fraudulent activities, with Rs 108.08 crore already returned to the victims. In the financial year 2023-24, the state reported 1,349 cases of banking fraud involving credit and debit cards, as well as internet banking transactions, marking a staggering 469 per cent increase from the 247 cases reported in 2022-23.