Mumbai, known as the financial capital of the country, is now also gaining the tag of being the capital of financial crimes. According to the latest report released by the National Crime Records Bureau (NCRB), Mumbai recorded the highest number of financial crimes in India in 2023, with as many as 6,476 cases registered. At the state level, Maharashtra ranks third in the country for economic offences.
The NCRB compiles and analyses data on crimes reported across India every year, presenting trends in different states and cities. The 2023 report highlights a disturbing rise in financial crimes nationwide, with Mumbai topping the list among cities despite witnessing a slight dip compared to 2022.
While Mumbai registered 6,960 financial fraud cases in 2022, the number fell to 6,476 in 2023. Despite this drop of 484 cases, the city still reported the highest number of such crimes in the country. Hyderabad stood second with 5,728 cases, followed by Jaipur with 5,304 cases.
The data shows that in 2021, Mumbai had reported 5,671 financial fraud cases. The number rose to 6,960 in 2022, before dipping marginally in 2023. The report also mentions that in 37.9 per cent of these cases, the police were able to file a chargesheet.
At the state level, Maharashtra continues to face a steady rise in financial fraud incidents. In 2021, the state recorded 15,550 cases of economic offences, which rose to 18,729 in 2022 and further increased to 19,803 in 2023. Despite these alarming figures, Rajasthan tops the national list with 27,675 financial fraud cases, followed by Telangana with 26,321 cases. Maharashtra ranks third. Notably, the NCRB report highlights that Maharashtra police filed chargesheets in 54.9 per cent of the financial crime cases.
Experts point out that with increasing banking transactions, corporate dealings, and widespread use of online platforms, the risk of financial fraud has grown significantly. The rapid rise of UPI and digital payments has further fuelled cyber fraud cases across the state and country.