Financial Crime World

Cybercrime on the Rise in Nepal

Financial Crimes and Cybercrimes Plague Nepal

Kathmandu, Nepal - A growing trend of financial crimes and cybercrimes has been reported in Nepal, with authorities struggling to keep pace with the increasing number of cases. In recent months, the Metropolitan Police Crime Division (MPCD) has received numerous complaints of online fraud and sexual exploitation, with victims from all walks of life falling prey to scams.

Victims’ Stories

One such victim is Saurav, a 26-year-old CA student who was duped by an online girlfriend from the Philippines. The woman, identified as Liane, threatened to upload compromising photos and videos on the internet unless Saurav paid her hundreds of dollars. After being unable to sleep at night due to fear of social stigma, Saurav finally reported the crime to the MPCD.

Statistics

  • Police investigators confirm that they deal with over 20 cases related to cybercrimes on a daily basis.
  • Around 300 victims filed reports with the MPCD last year alone.
  • In contrast, there were only 91 such cases reported in 2013-14.

Types of Cybercrime

  • Online sexual exploitation: Police have received numerous complaints of online fraud and sexual exploitation.
  • Organized cybercrime: Reports of organized cybercrime, including the Nigerian 419 scam, have been made. At least 38 people have been affected by this scam in the past three years.

Contributing Factors

  • New trends in cybercrime emerge on a daily basis and are accelerating rapidly.
  • The boom of internet usage through mobile phones has contributed to the growth of cybercrime. With 45.64 percent of Nepal’s population now having access to the internet, the potential for cybercrime is increasing.

Challenges

  • Many victims remain reluctant to report crimes due to societal stigmas.
  • Despite efforts by authorities to combat cybercrime, it continues to flourish.

Prevention and Education

  • Experts urge internet users to be more careful with their online activity.
  • People should not jump into the cyber world without understanding that nothing is for free.
  • The Electronic Transactions Act of 2008 provides jurisdiction for current investigations into cybercrime. Offenders can face up to five years in prison and/or a fine of up to Rs 100,000.

Conclusion

As DIG Madhav Joshi warned, “Netizens should have a clear understanding of net ethics in order to navigate cyberspace. It is all fun and games until something goes terribly awry.”