Digital Payment Frauds Cost Indians Rs 107 Cr in 2024

New Delhi, Mar 10 (PTI) Individuals have lost a cumulative Rs 107 crore due to cards, internet and digital payments frauds in the current fiscal till December 2024.

In the full 2023-24 (April-March), the loss due to such frauds was Rs 177 crore. A total of 29,082 frauds took place where the amount involved was Rs 1 lakh and above.

In the April-December period of the current fiscal, 13,384 such frauds, involving a loss of Rs 107.21 crore to the general public, were reported.

"With increasing digital payment transactions in the country, incidences of fraudulent practices, including digital payment frauds, have also gone up in the last few years," Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha.

In 2022-23, 6,699 such frauds were reported with a loss of Rs 69.68 crore, while in 2021-22, 3,596 cases involving loss of Rs 80.33 crore were reported.

Chaudhary also said that to spread awareness against cyber crimes, the government has been taking various initiatives from time to time. These, inter alia, include cyber safety tips through social media accounts and the publishing of a handbook for adolescents/ students. The RBI and banks have also been taking up awareness campaigns through short SMS, radio campaigns, publicity on the prevention of ‘cybercrime' etc.