Congress misleading on digital frauds, real losses under ₹1,000 cr over a decade: Govt sources
To bolster digital payment safety, the government, RBI, and NPCI have deployed a range of safeguards, including device binding, two-factor authentication, and AI-driven fraud alerts. Awareness campaigns continue to educate users nationwide.
- Jun 2, 2025,
- Updated Jun 2, 2025 8:15 PM IST
The Congress party’s claim that Indians have lost ₹6.36 lakh crore to digital payment frauds has stirred alarm — but government sources say it’s a distortion of facts. They said the figure lumps together all banking frauds over the last decade, misrepresenting the much smaller scale of actual digital fraud.
Government sources accused Congress of misleading the public by conflating digital payment frauds with the broader category of total banking frauds.
In reality, total banking fraud includes a wide range of financial irregularities — advances, deposits, off-balance sheet items, foreign exchange transactions, cheque frauds, cash handling, and inter-branch discrepancies, among others.
Digital frauds — those linked to cards or internet payments — form just a fraction of this category. Since FY2015, the total loss from such frauds stands at ₹733.26 crore, with only 63,315 cases reported over 10 years, sources said.
Government sources emphasised significant reforms undertaken to tighten security and reduce fraud. “Frauds in public sector banks dropped from ₹21,626 crore in FY20 to just ₹232 crore till December FY25, thanks to AI-based monitoring, stricter controls, and robust governance measures,” a source noted.
To bolster digital payment safety, the government, RBI, and NPCI have deployed a range of safeguards, including device binding, two-factor authentication, and AI-driven fraud alerts. Awareness campaigns continue to educate users nationwide.
Additionally, the National Cybercrime Helpline ‘1930’ has helped save ₹4,386 crore by handling nearly 50,000 calls daily. The Ministry of Home Affairs’ I4C platform has enabled over 6,000 arrests, blocked 7.8 lakh SIM cards, and launched ‘Samanvaya’ to enhance real-time data sharing among enforcement agencies.
The Congress party’s claim that Indians have lost ₹6.36 lakh crore to digital payment frauds has stirred alarm — but government sources say it’s a distortion of facts. They said the figure lumps together all banking frauds over the last decade, misrepresenting the much smaller scale of actual digital fraud.
Government sources accused Congress of misleading the public by conflating digital payment frauds with the broader category of total banking frauds.
In reality, total banking fraud includes a wide range of financial irregularities — advances, deposits, off-balance sheet items, foreign exchange transactions, cheque frauds, cash handling, and inter-branch discrepancies, among others.
Digital frauds — those linked to cards or internet payments — form just a fraction of this category. Since FY2015, the total loss from such frauds stands at ₹733.26 crore, with only 63,315 cases reported over 10 years, sources said.
Government sources emphasised significant reforms undertaken to tighten security and reduce fraud. “Frauds in public sector banks dropped from ₹21,626 crore in FY20 to just ₹232 crore till December FY25, thanks to AI-based monitoring, stricter controls, and robust governance measures,” a source noted.
To bolster digital payment safety, the government, RBI, and NPCI have deployed a range of safeguards, including device binding, two-factor authentication, and AI-driven fraud alerts. Awareness campaigns continue to educate users nationwide.
Additionally, the National Cybercrime Helpline ‘1930’ has helped save ₹4,386 crore by handling nearly 50,000 calls daily. The Ministry of Home Affairs’ I4C platform has enabled over 6,000 arrests, blocked 7.8 lakh SIM cards, and launched ‘Samanvaya’ to enhance real-time data sharing among enforcement agencies.