Ahmedabad: Because more people lean on digital transactions in the middle of the covid pandemic, hundreds also become victims of financial cyber fraud.
The number of cases like that in Gujarat rose 67% at 2020-21, as a fraudster throwing their nets wider to deceive people who were mostly at home because of the restrictions induced by Covid-19.
The scheduled commercial bank (SCB) in the state reported 4,671 cyber fraud cases in the 2020-21 fiscal year compared to 2,803 in 2019-20.
This count is 55 in 2016-17, the Ministry of Finance Union told Lok Sabha in a written reply.
As far as Gujarat, the number involved in this fraud doubled it to Rs 13.36 Crore in the Fiscal Year 2021 from Rs 6.69 Crore the previous year, showing data under parliament.
Cyber financial fraud in the banking industry is mainly related to fraud that has occurred at ATMs, through debit cards, credit cards and internet banking platforms.
SCB reports this fraud under the Cards / Internet Categories, ATM / Debit Cards and Internet Banking ‘based on the date of occurrence, the Ministry said further.
“The proportion of digital transactions has risen since demonetization and rises further since locking.
With an increase in adoption and poor awareness among people, many consumers fall prey to cyber fraud.
Banks do all efforts to strengthen the digital banking system to prevent fraud, “MM Bansal said, the organizer of the State Level Banker Committee (SLBC), Gujarat.
Gujarat registered the number of fifth highest cyber financial fraud in the last financial year.
Maharashtra occupies a list of lists with 26,522 cases involving RS 67 Crore.
It was followed by the National Capital Region (NCT of Delhi), Tamil Nadu and Haryana.
While digital adoption increases, careless use by customers who are not literate or conscious, make them make ridiculous errors such as sharing OTP, do not secure the device, record passwords, etc.
Banker said.
“Outsourcing agents are burdened with a lot of work such as loading and dismantling cash, debit / issuance of credit cards and opening new accounts.
This overburden makes the banking process more susceptible to fraud,” said Janak Rawal, Secretary General, all Gujarat Bank Empployee Association (MGBEA) .
Interestingly, Gujarat was the only country in the top five who saw an increase in cases of cyber fraud in 2020-21.
The other four saw their number decreased compared to 2019-20.
Cyber fraud case in Gujarat grew 67% at 2020-21
