AAP MP Raghav Chadha has expressed alarm over the increasing incidents of cyber and digital fraud within the banking industry. He cites a staggering 285% rise in banking fraud cases, with complaints jumping from 75,800 in 2023 to over 292,000 in 2024.
Chadha asserts that this escalation has resulted in public losses amounting to approximately ₹2,100 crores. The majority of these complaints are reportedly associated with UPI-related fraud. Additionally, he has raised concerns about the escalating problem of data theft, questioning whether banks are adequately protecting sensitive customer information from potential misuse or breaches. Most complaints pertain to UPI fraud, which has become a significant issue.
Chadha also emphasizes the critical nature of data theft, urging banks to ensure the security of personal information such as PAN numbers, addresses, and other details from being exploited by marketing firms and credit card companies.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
