Global Cybercrime Losses Could Hit $13.82 Trillion by 2028: Google

Amid a surge in cyber threats and online criminal activity, global entities could face losses of up to $13.82 trillion by 2028, Google said on Tuesday while unveiling its Safety Charter for India’s AI-led transformation at the ‘Safer with Google India Summit.

At the summit, the global tech giant highlighted its deep commitment to creating a safer online environment and empowering users, businesses, and governments while building AI responsibly. 

As part of its ongoing efforts to ensure the safety and security of all users online, Google Messages blocks over 500 million scam texts monthly and has issued more than 2.5 billion suspicious link warnings via on-device AI.

“At Google, safety isn't an afterthought—it's embedded in our design principles, engineering processes, and company culture. Our AI systems constantly evolve to detect new threats and scams, even recognising malicious patterns in attacks that have never been seen before,” said Preeti Lobana, Vice President and Country Manager, Google India. 

Google also said that in 2024, it removed over 247 million advertisements and suspended 2.9 million accounts for violations of its advertising policies.

By combining AI-powered threat detection across platforms with cross-sector intelligence sharing and proactive policy measures, Google has already demonstrated significant impact, including Google Pay averting 13,000 crore in financial fraud during 2024. 

In India, reports indicate a sharp rise in cyber fraud, with scammers increasingly using advanced tactics such as AI-generated content, deep fake videos, and voice cloning to execute highly convincing scams.

According to the Google Safety Charter, Indian entities could lose up to ₹20,000 crore to cybercrime in 2025.

UPI-related frauds reportedly cost Indians over Rs1,087 crore in 2024, according to industry estimates cited in Google’s Safety Charter.

Building on this impact and furthering the collaboration with the Ministry of Home Affairs, Google has officially partnered with the Indian Cyber Crime Coordination Centre (I4C) to strengthen its efforts towards user awareness on cybercrimes, over the next couple of months in a phased approach.

"For India to become Viksit Bharat, we must build and maintain trust in the internet and our digital infrastructure. Trust is the bedrock of our digital aspirations and the reason India's digital economy has become an engine of growth,” added Lobana.