Banks reported over 8000 cyber fraud cases in 2012

In total, cyber frauds involving over Rs 200 crore were reported in last four years

GN Bureau | February 25, 2013



Cyber frauds have emerged as a major challenge to the banking sector. Around 8,322 banking frauds cases, involving Rs 52 crore, were reported in 2012, as against 9588 cases involving Rs 36 crore in 2011. In total, cyber frauds involving over Rs 200 crore were reported in last four years.

The information was provided by minister of state for finance, Namo Narian Meena, while he replied, in written, to a question in the Lok Sabha on Friday. He cited data furnished by reserve bank of India (RBI). 

The reported cases included frauds pertaining to ATMs, debit cards, internet banking and credit cards. 

Interestingly, though in the last four years the numbers of reported cases have gone down, the amount involved in these cases vary. In 2009, 21966 cases involving Rs 72 crore (approximately) were reported.  In 2010, 15018 cases involving Rs 40 crore were reported. 

The RBI data doesn't include cyber frauds in public sector banks, which have turned into non– performing assets.

Comments

 

Other News

Gandhian movement after Gandhi failed: Ram Guha

The Gandhian movement in India, after Gandhi’s death, failed, says Ramachandra Guha, and blames Vinoba Bhave for it. But the movement found new, fertile grounds around the world and succeeded in bringing about a change in South Africa, the US and elsewhere. It is high time it returned home. Of cour

When religion, politics and Bollywood come together

Tavleen Singh, noted journalist and political commentator, has turned to fiction, with her debut novel ‘The Actor’ (HaperCollins India). Set in the near future, it has a superstar, Amit Singh, turning to politics, when the political landscape is dominated by prime minister Guru Gaynendraj

Cabinet approves setting up of Integrated Transport & Logistics Authority

The union cabinet, chaired by prime minister Narendra Modi, on Tuesday approved the setting up of a Special Purpose Vehicle (SPV), called Integrated Transport & Logistics Authority (ITLA), to strengthen research, planning, appraisal, monitoring and impact assessment within the broad domains of Transp

Why foundational literacy and numeracy is key to school education

Foundational Literacy and Numeracy (FLN) are often described as the building blocks of education. Yet, their significance goes well beyond a child’s ability to read a sentence, write a response or solve a basic mathematical problem. These foundational skills shape how children understand the world,

When police data becomes the algorithm

For decades, policing has followed a familiar sequence: a crime occurs, the police respond, an investigation produces records and those records become part of the institutional memory of the criminal justice system. Artificial intelligence is beginning to alter that sequence. Instead of merely recording

Before India voted, the framers worried about the referee

“We are making a Constitution forever and not only for today.” Shibban Lal Saksena said this in the Constituent Assembly on June 15, 1949. He was warning that a ruling party might one day choose a loyalist to run India’s elections. Seventy-seven years later, the Supreme Court is wrestli

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter