Digital banking fraud continues to pose a growing challenge, with customers of the State Bank of India (SBI) losing more than ₹6,313.4 crore across over 30,700 fraud cases between April 2023 and March 2026, according to data obtained through a Right to Information (RTI) request.
The report identified UPI and internet banking as the most commonly exploited channels. UPI-related frauds accounted for 12,868 cases, while 8,657 incidents were linked to internet banking. Together, these channels contributed to more than 21,500 fraud cases during the period.
While the overall number of fraud incidents has shown a slight decline in recent years, the average financial loss per case has increased. The trend points to a shift toward fewer but higher-value frauds, resulting in greater losses for affected customers.
SBI also recorded 23,580 cyber fraud incidents involving losses of ₹166.73 crore during the reporting period. In addition, 303 fraud cases involving bank employees led to losses amounting to ₹311.08 crore.
State-wise data showed West Bengal reporting the highest number of fraud cases, with 3,426 incidents and losses of ₹143.67 crore. Comparative figures for other states were not disclosed in the report.
The nature of digital fraud has also become more sophisticated. While earlier scams largely relied on phishing links and fake calls, cybercriminals are now increasingly using fake investment applications, cloned trading platforms, remote access tools, and screen-sharing techniques to deceive victims.
The report further noted that SBI does not maintain separate detailed records of digital arrest scams, despite a rise in complaints nationwide. In these cases, fraudsters impersonate law enforcement or regulatory officials and pressure individuals into transferring money by threatening legal action or arrest.
Cybersecurity expert and former IPS officer Prof. Triveni Singh stated that the rapid growth of digital payments has improved convenience but also created new opportunities for cybercriminals. According to him, fraudsters are increasingly relying on social engineering tactics, using fear, urgency, and greed to manipulate victims rather than relying solely on technical methods.
The findings highlight the growing need for stronger cybersecurity measures, improved transaction monitoring, and greater public awareness as digital banking becomes an integral part of everyday financial activity.
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