New Delhi, Oct. 16 -- Japan last week declared a "state of emergency in cyber space" as a growing wave of cyberattacks hits major companies, hospitals and government facilities, raising concerns that tens of millions of customer records may have been exposed, according to a report by the Financial Times.

This growing cyber security threat prompted Japan's financial regulator to warn banks against accepting driving licences as proof of identity when opening new accounts, the news report stated.

But, this is not a country-specific issue. In India, citizens lost Rs.22,495 crore to cyber frauds in 2025, as compared to Rs.22,845 crore in 2024, according to data sourced from Ministry of Home Affairs. Despite the slight decline in the amount l...