look news india
Every day about 800 cases of online financial fraud are reported in India. Which is ten times more than the annual figures shown by the Reserve Bank of India (RBI). That is why this distance
In its report, RBI has considered only those cases where online fraud of more than Rs. one lakh has taken place. Also, if all the cases of National Cyber Crime Reporting (NSCR) portal are added, the number of frauds is still very high. According to the Ministry of Electronics and IT in February this year, fraud incidents worth Rs 5,574 crore were reported on the National Cyber Crime Reporting Portal till September 2023 in the financial year 2023-24.
According to the report, 29,082 cases of card and digital payment frauds amounting to Rs 1,457 crore were reported in the last financial year. If fraud cases of less than Rs one lakh are also included, the number of fraud cases will increase to 2.7 lakh cases, while the total amount of fraud will increase by Rs 653 crore.
This entire fact came to light in response to a Right to Information (RTI) application filed with the RBI. In response to the application, it was said that a total of 5.4 lakh cases of online fraud have been reported in the last five years. In which fraud of Rs 1,146 crore was committed. On the basis of which it can be said that about 800 cases of online fraud are reported daily in India.
Increase in use of digital payments leads to higher fraud rates
Three-year growth rate (CAGR) of card and digital payments.
in the value of the transaction
24% increase
in the number of transactions
53% increase
Increase in value of fraud and number of cases over three years
The value of the scam increased by 109%
59% increase in fraud cases
