Online banking and plastic card-related fraud in India increases 35 percent

The incidence of ATM, credit, debit card and net banking-related fraud has gone up by more than 35 percent between 2012-13 and 2015-16 in India, according to country’s federal bank Reserve Bank of India (RBI).

According to RBI data, 8,765 cases were reported by banks in 2012-13 and the corresponding figures for subsequent three years were 9,500 (2013-14), 13,083 (2014-15) and 11,997 (in the first nine months of 2015-16) respectively. India ranked third after Japan and the US as countries most affected by online banking malware in 2014.

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