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Cases of banking fraud are being seen repeatedly in India. Recently, whereas giving info in Parliament on the matter of banking fraud, the federal government mentioned that Kotak Mahindra Bank has the best variety of banking fraud incidents. According to the knowledge given by the federal government in Parliament, within the first 9 months of the monetary 12 months 20221-2022, a complete of 642 fraud circumstances have been reported within the financial institution. In all these circumstances, the client has been defrauded of an quantity of 1 lakh or extra. Apart from this, there are various different banks within the nation which have been victims of such a cyber crime.
The title of one other massive non-public financial institution ICICI Bank can be included within the circumstances of cyber crime. According to the knowledge given by the federal government, a complete of 518 circumstances of financial institution fraud have additionally come to the fore in ICICI Bank. Apart from this, 377 circumstances of fraud have come to the fore in IndusInd Bank. The authorities informed the Parliament that RBI has been taking steady steps to cut back cyber fraud for a while now. Due to this, there’s a regular lower in circumstances now. Along with this, all banks try to make their clients extra cautious. Giving info on the matter, Minister of State for Finance Bhagwat Karad informed in Parliament that the whole quantity cheated by cyber crime has seen a lower within the final 5 years.
Incidents of accelerating fraud in Kotak Mahindra Bank
Presenting the information, Minister of State for Finance Bhagwat Karad mentioned that in the previous couple of years, there’s a regular enhance in fraud circumstances in Kotak Mahindra Bank. According to RBI knowledge, 135 fraud circumstances had been reported within the financial institution within the 12 months 2017. At the identical time, these circumstances elevated to 289 in 2018, 383 within the 12 months 2019 and 652 within the 12 months 2020. At the identical time, within the 12 months 2021, circumstances have reached 826. In the monetary 12 months 2021-2022 alone, the variety of frauds has reached 642 within the first 9 months.
Know the situation of different banks
- Axis Bank – 235 Fraud Cases
- HDFC Bank-151 Fraud Cases
- State Bank Of India-159 Fraud Cases
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