Online Fraud: Reduction in online fraud cases, many banks reported zero fraud in two years

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There has been a decrease in online fraud in the country. Regarding online fraud, the Minister of State for Finance has said that many banks have reported zero fraud in 2020-2021. According to a Hindustan Times report, Minister of State for Finance Bhagwat Karad has said that Bank of India, Bank of Maharashtra and AU Small Finance Bank have said that online banking and ATM fraud cases will increase by 4.56 per cent in 2020-21 and the next financial year. There has been a decline of 7.9 percent.

Giving information in the House, the Minister of State for Finance said that there has been a decline of 4.56 per cent in the financial year 2020-21 and 7.9 per cent in the next financial year in the cases of online banking and ATM frauds. The Minister of State for Finance said that the government has taken comprehensive steps regarding online banking transactions. Due to which there has been a decrease in online fraud and ATM fraud cases.

There has been a decrease in online fraud: The Minister of State for Finance told in the House that there has been a decrease in cases of fraud in online banking transactions. He said that in the financial year 2022, the amount involved in online fraud has come down by about 17.5 percent to Rs 128 crore. Whereas in the last financial year it was Rs 160 crore.

Decrease in fraud in 5 years: The Minister of State for Finance told in the House that the strict steps taken by the government regarding online banking transactions. Because of that there has been a significant reduction in online fraud. According to RBI data, in the financial year 2019-20 it was Rs 185 crore, while in the financial year 2022-21 Rs 160 crore was recorded. At the same time, with a decline of 17.5 percent this year, this amount has remained Rs 128 crore.

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