Cyber fraud costs banks 130 cr in 3 years

Cyber fraud costs banks 130 cr in 3 years

Mumbai-Nearly a month after the Mumbai police busted a Rs 1 crore cyber fraud, data submitted to thefinance ministry has revealed that cyber criminals have defrauded banks in the country of almost Rs 130 crore in the last three years.

According to a senior finance ministry official, a record 32,928 cases of fraud pertaining to ATMs, debit and credit cards and internet banking were registered in the period involving 50 nationalized and other banks across the country.

“Most of the banks are from Mumbai and it appears that the law-enforcing agencies have failed to detect the cases. In fact, some of the crucial cases were not entrusted to the specially set up cyber branch or cyber police station. As a result, these are being investigated by ill-trained police officials at police stations,” the official said. -EconomicTimes

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