Over 22,700 online transaction fraud cases reported in India in 2017

Electronics and information technology minister Ravi Shankar Prasad revealed that the online transaction frauds till December 21, 2017, involved a combined amount of worth over Rs. 155 crore.

    Over 25,800 fraud cases involving about Rs. 179 crore related to credit/debit cards and internet banking were reported in 2017 up to December 21, Parliament was informed on Friday.

    Over 22,700 online transaction fraud cases reported in India in 2017

    "As per the data provided by Reserve Bank of India (RBI) on frauds related to ATM/Credit/Debit cards and net banking as reported by the banks, 10,220 cases of fraud were reported in the December 2017 quarter (up to December 21)," IT Minister Ravi Shankar Prasad said in a written reply to the Rajya Sabha. The combined amount of frauds was worth over Rs. 155 crore in the said quarter, he added.

    Prasad has revealed that close to 7,372 cases were reported in September quarter, 5,148 cases in June quarter and 3,077 cases in March quarter of 2017, with the amount involved reaching to Rs. 67.13 crore.

    Moreover, there has been a significant jump in numbers compared to last year. As such, in 2016, 3,156 cases and 4,147 cases were registered in the September and December quarters, respectively. The amount involved in this two-quarter was-Rs. 45.50 crore, the minister said.

    Talking about the state-wise details of frauds involving an amount of over Rs. 1 lakh, Maharashtra topped the list of credit/debit card and Internet banking-related frauds in fiscal 2016-17 with 380 cases involving Rs. 12.10 crore. Other states like Haryana ranked second with 238 cases (Rs. 8.27 crore), followed by Karnataka (221 cases worth Rs. 9.16 crore), Tamil Nadu (208 cases worth Rs. 4.38 crore) and Delhi (156 cases worth Rs. 3.43 crore).

    Meanwhile, "Reserve Bank of India (RBI) and the various ministries or departments of the government review the cyber security developments and threats on an ongoing basis and take measures as necessary in order to strengthen cyber resilience," he said.

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