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LATEST NEWS UPDATES | Cases of digital frauds surge during pandemic; Mumbai, Delhi and Chennai top chart

Cases of digital frauds surge during pandemic; Mumbai, Delhi and Chennai top chart

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published Published on Jun 3, 2021   modified Modified on Jun 5, 2021

-Moneycontrol.com

The share of suspected fraudulent digital transaction attempts originating from India increased 28.32 percent over the 12 months ending March, 2021 compared with the previous 12 months, according to a report.

With the increased usage of digital channels for payments during the COVID-19 pandemic, attempts of digital fraud have been on the rise in India as in the rest of the world, according to recent reports by TransUnion and ACI Worldwide. Customers have been relying on digital channels to do business on account of local restrictions and fear of COVID spread.

According to a report by global information and insights company TransUnion, the share of suspected fraudulent digital transaction attempts originating from India increased 28.32 percent over the 12 months ending March, 2021 compared with the previous 12 months.

In India, across industries, TransUnion found that the highest share of suspected digital fraudulent transactions originated from Mumbai, Delhi and Chennai.

“Results showed a significant increase in attempted digital fraud originating from India against logistics companies. The level more than trebled (up 224 percent) and has been a significant development during COVID-19 times,” TransUnion said in its report.

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Moneycontrol.com, 3 June, 2021, https://www.moneycontrol.com/news/business/cases-of-digital-frauds-surge-during-pandemic-mumbai-delhi-and-chennai-top-chart-6984761.html


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