Digital Fraud Doubled Home Ministry Told Parliament-UPI Also Included

Digital fraud cases have doubled in the country, 13.42 lakh UPI fraud cases were registered in 2023-24. The Ministry of Home Affairs has taken several steps to deal with cyber crimes.

Insecurity of the country’s digital payment system is increasing. In the last one year, cases of digital fraud including UPI payment have doubled. According to the Ministry of Home Affairs, 13.42 lakh cases of UPI fraud were registered in 2023-24. Last year this number was 7.25 lakhs. The Center told Parliament that there was a fraud of Rs 1,087 crore in 2023-24. Last year, this figure was Rs 573 crore. Digital fraud includes many types of criminal activities. These include misuse of debit/credit cards, ransomware attacks and use of much accounts.

Today, the Ministry informed the Rajya Sabha that several steps have been taken by the Center to deal with cyber crimes. Out of 13.36 lakh complaints so far, more than Rs 4,386 crore has been saved due to surveillance. Minister of State for Home Sanjay Kumar Bandi said that the Cyber ​​Fraud Mitigation Center (CFMC) has been established in the Ministry of Home Affairs. In this, representatives of major banks, financial intermediaries, payment aggregators, telecom service providers, IT arbitrators and law enforcement agencies of states/union territories are working together.

The ministry said that more than 3,962 Skype IDs and 83,668 WhatsApp accounts have been blocked. According to the data till February, the police have blocked more than 7.81 lakh SIM cards and 2,08,469 IMEI. A portal has been launched in collaboration with banks and financial institutions to identify cyber criminals. So far, more than 8 lakh suspected records and more than 20 lakhs of Craft accounts have been shared, due to which an amount of more than Rs 2,889 crore has been saved.

The government has said that various initiatives have been taken to prevent fraud related to payment. Which includes UPI transaction fraud. These include device binding between customer’s mobile number and device, two-factor authentication, daily transactions and ban on use cases. NPCI also provides a fraud monitoring solution to all banks. Interestingly, the Government of India and the Reserve Banks of India are working towards connecting UPI with fast payment systems of other countries. Currently, UPI is live in seven countries (UAE, Nepal, Bhutan, Singapore, Mauritius, France and Sri Lanka).

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