Digital banking frauds declining

RBI Kehta Hai: Measures include building awareness about not to share password/pin/OTP received through SMS, act swiftly on alerts received on transactions, which customer have not initiated

New Delhi: The number of digital transactions frauds under the category 'Card/Internet - ATM/Debit Cards, Credit Cards and Internet Banking' as per the occurrence of frauds declined from 70,283 in 2020-21 to 58,111 in 2021-22.

In a written reply to a question on 'frauds in digital transactions', the Finance ministry said that the digital transaction platform is a pan India platform with a facility of 'anytime anywhere' banking. Accordingly, the data is captured only at the National level.

It said that RBI has taken various steps to enhance security of digital payments transactions, including card transactions and to control frauds. These include various benefits in terms of increased safety of transaction, efficiency in grievance redressal mechanism, etc., being provided to customers.