Banking fraud cases jump 40 per cent in two years

Data released by home ministry shows, banking frauds, misuse of credit cards and cyber crimes had jumped 40 per cent in the last two years, Delhi Daily News reported.

According to statistics, as many as 71,780 cyber frauds were reported in 2013, as against 22,060 such cases reported in 2012.

According to data, banking frauds constituted the majority of cyber crimes. Many accounts were hacked and misused by hackers for fraudulent transactions.

The hackers even offered hoax claims and rewards in the name of the RBI.

The government had already alerted customers against these crimes and against revealing their confidential details like password of internet banking to anyone.

Meanwhile, nvonews.com reported that cyber crime was a cause of worry in India. What has come as a biggest surprise for officials is an increase of more than 40 per cent in cyber crime over the past few years.

This only showed that Indians online were not safe and at the peril of being attacked by hackers.

Gangs of criminals were targeting online Indians at will with such activities as hacking, phishing, spamming and transmission of unauthorised content. Also, cases of credit card and banking fraud too had seen an increase in the last few years.

The biggest worry was how such illegal activities could be countered as the attacks mostly originated from countries like the US, Europe, Pakistan, Bangladesh, China, Brazil, Turkey, Algeria and the UAE.

As hackers and criminals go about their work stealing documents and sending wrong messages from behind proxy servers it got extremely difficult for officials to act against them.