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The Reserve Bank of India (RBI) has reported a substantial increase in banking fraud cases during the first half of the fiscal year 2024-25. The number of reported fraud cases rose by 27% to 18,461, compared to 14,480 cases in the same period the previous year. The total amount involved in these frauds surged eightfold, reaching Rs 21,367 crore. The RBI has flagged the heightened risk of cyberattacks and digital frauds, emphasizing the need for enhanced cybersecurity measures to protect the financial ecosystem.
#RBI red flags increased #risk of #CyberAttacks, #DigitalFrauds and #DataBreaches https://t.co/sR6tmIZFlt https://t.co/3IHpcDWZEQ
Banking fraud cases in India surged 27 per cent to 18,461 cases in the first half of the financial year 2024-25, compared to its previous level of 14,480 cases in the same period in the previous year, citing official Reserve Bank of India (RBI) data. Read more:… https://t.co/mVRzdoyW1Z
Bank frauds saw a significant rise in first half of current fiscal year, with 18,461 cases, amounting to Rs 21,367 crore, being reported, says #RBI.
