The expansion of social media usage in Bangladesh has been accompanied by a growing number of account hacking incidents. Platforms such as Facebook, Twitter, and Instagram are increasingly targeted by cybercriminals, leading to both financial losses and reputational harm for affected users. In response, cyber insurance is gradually emerging as a potential risk management tool, although its coverage remains limited.
A 2024 report on Cyber Crime Trends issued by the Cyber Crime Awareness Foundation shows that social media hacking constitutes 21.65 per cent of all reported cybercrime cases in the country, making it the most common category of digital offence. The report also indicates that 47.72 per cent of victims experienced social reputation damage, while 40.15 per cent reported direct financial losses as a result of such incidents.
The same dataset highlights a clear demographic concentration of victims. Individuals aged between 18 and 30 account for 78.78 per cent of total cases, while approximately 59 per cent of victims are women. These figures underline a higher exposure of young users, particularly females, to social media-related cyber risks in Bangladesh.
At present, Bangladesh does not have any dedicated insurance product specifically designed for social media platforms. However, several insurers offer broader cyber risk coverage under general policies. Among them, Green Delta Insurance provides cyber risk insurance that may cover financial losses due to hacking incidents, costs related to legal proceedings, and digital forensic support for investigation and recovery purposes.
These insurance products typically include three main areas of support: compensation for verified financial losses, legal assistance in handling cyber-related disputes, and technical services for digital forensic analysis and recovery of compromised accounts. Such provisions are designed to assist victims in restoring access to their digital identities and mitigating further harm.
According to industry experts, claiming insurance benefits after a cyber incident requires strict adherence to reporting procedures. Victims are generally required to submit complaints to BGD e-Gov CIRT and lodge a general diary (GD) with the police. Documentation of preventive security measures, such as enabling two-factor authentication, is also important in validating insurance claims.
Key Data Summary (2024)
| Category |
Figure |
| Share of cybercrime linked to social media hacking |
21.65% |
| Victims facing reputational damage |
47.72% |
| Victims facing financial loss |
40.15% |
| Most affected age group |
18–30 years (78.78%) |
| Female victim proportion |
~59% |
Although cyber insurance in Bangladesh is still in its early phase, the increasing frequency of hacking incidents highlights its growing relevance. The available data suggests that such insurance mechanisms could play a significant role in reducing both economic and social consequences of cybercrime.
Experts emphasise that broader adoption of cyber insurance, combined with improved awareness and stronger reporting systems, will be essential for strengthening digital security protection in the country.
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