Bhubaneswar: Cyberfraudsters siphoned off more than Rs 370 crore from Odisha residents in three years — 2023, 2024 and 2025 — while the state police managed to recover only about 2.7% of the amount during the period, according to data shared in the assembly on Monday.Replying to a question from MLA Pradyumna Kumar Nayak in the assembly, chief minister Mohan Charan Majhi said 7,652 cybercrime cases were reported from 2023 to 2025.“The cumulative amount lost to cyberfrauds in 2023, 2024 and 2025 stood at about Rs 370.72 crore, while the total amount recovered was nearly Rs 9.97 crore,” the chief minister informed the House.Police said delayed reporting drastically reduces the chances of recovering stolen money. They pointed out that the Centre’s National Cyber Crime Reporting Portal (www.cybercrime.gov.in) serves as the first line of defence by enabling authorities to freeze suspect accounts and block transactions.“We find it difficult to recover the money if victims report the fraud late. To counter online financial crimes, victims should immediately call the 1930 cyber helpline and lodge a complaint on the cybercrime portal before filing a formal written complaint. Delays increase the likelihood of permanent financial loss,” a senior police officer told TOI.Police added the widespread use of mule accounts and swift transfer of funds across multiple accounts further complicate recovery efforts. Coordination with banks is also critical in tracing transaction trails. “The sooner victims report a fraud, the better our chances of tracing the money trail. Ideally, complaints should be lodged during the golden hour. Unfortunately, many victims approach us after significant delays. By then, the money is often transferred to multiple accounts and withdrawn,” another senior police officer said.Police sources said a majority of cyberfraud cases involved part-time job scams, fraudulent share-trading schemes, digital arrest scams and fake online investment opportunities, including cryptocurrency-related frauds.Experts attributed the surge in cybercrime and the low recovery rate to limited public awareness, delayed reporting by victims and the rapid movement of funds across multiple bank accounts.Cybersecurity expert Binayak Sahoo said the actual financial losses could be significantly higher as many cyberfraud cases go unreported. “Cases are rising despite extensive awareness campaigns. Even educated people continue to fall prey to fraudulent schemes promising unrealistic returns and quick profits,” Sahoo said.