Global News Hubb
Advertisement Banner
  • Home
  • Politics
  • Finance
  • Technology
  • Contact
No Result
View All Result
  • Home
  • Politics
  • Finance
  • Technology
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Finance

Bank frauds from card, net-based transactions rise, shows RBI report

admin by admin
December 28, 2022
in Finance


The average amount of fraud —defined as the total amount involved in frauds divided by number of frauds — decreased substantially during 2021-22, data from Reserve Bank of India’s (RBI’s) Trend and Progress Report shows. In terms of the number of frauds, the modus operandi seems to have shifted to card or internet-based transactions. Cash frauds are on the rise as well, the report said.

Even the total amount has gone down during this period and in the first six months of 2022-23, it seems to have decreased further. However, the number of instances of frauds seems to be on the rise.

Based on the date of occurrence, advances-related frauds formed the biggest chunk before 2019-20. The number of fraud cases reported by private banks outnumbered those by public sector banks (PSBs) for the second consecutive year in 2021-22. In terms of the amount involved, however, the share of PSBs was 66.7 per cent in 2021-22, compared with 59.4 per cent the previous year.

graph



Source link

Tags: bank fraudscard fraudonline bank fraudRBI
Previous Post

How Zimbabwe’s Panamax crowdfunds working capital for SMEs

Next Post

8 takeaways from investigation of Alzheimer’s drug approval

Next Post

8 takeaways from investigation of Alzheimer’s drug approval

Recommended

NRE/NRO accounts with international mobile numbers can now use UPI

3 weeks ago

Remark Holdings, Inc. Partners With AAEON

1 day ago

© 2022 Global News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Politics
  • Finance
  • Technology
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Politics
  • Finance
  • Technology
  • Contact

© 2022 Global News Hubb All rights reserved.