This is compared to 5, 396 cases totalling ₹ 17, 685 crores in the same period of a year ago.
According to the RBI report, in the first half of the current financial year, 14,483 scams were reported, amounting to ₹2,642 crore. This is compared to 5, 396 cases totalling ₹ 17, 685 crores in the same period of a year ago. These scams, 12, 069 cases were related to cards ant the internet, amounting to ₹630 crores in H1FY24, compared to 2,321 cases totalling ₹87 crores in the corresponding period of the previous year.
The report highlighted that scams within the banking sector pose risks to reputation, operations, and overall business, corrupting customer trust and impacting financial stability.
Despite the cases of fraud increase, the total number of reported scams by banks has fallen to a six-year low. The major targeted scams are on cards or related to the internet.
So, if you have got trapped once, be aware for the next time. Never share your bank details with anyone especially, those you don't know about.
