Banking frauds on rise, but value falls
The number of frauds in the banking sector went up to 13,530 in 2022-23 year-on-year, but the amount involved nearly halved at Rs30,252 crore, showed a Reserve Bank of India (RBI) data released on Tuesday.
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Mumbai: The number of frauds in the banking sector went up to 13,530 in 2022-23 year-on-year, but the amount involved nearly halved at Rs30,252 crore, showed a Reserve Bank of India (RBI) data released on Tuesday.
Frauds occurred predominantly in the category of digital payments (card/internet), in terms of number, said Reserve Bank’s Annual Report 2022-23. However, in terms of value, frauds have been reported primarily in the loan portfolio (advances category).