Bankers are being cheated more in digital banking, banks have been 'helpless'

With the rise in digital banking, the incidence of financial fraud has increased. This information was given by the banks in the recent meeting of the Parliament panel.
New Delhi / Prakash Priyadarshi: With the rise in digital banking, the incidents of financial fraud have increased. This information was given by the banks in the recent meeting of the Parliament panel. Let us tell you that digitization has accelerated after the ban was issued by the government in November 2016.According to sources, in the recently held Bandyak, information from the government banks was given to the Parliament panel regarding the financial fraud related incidents. Banks told the panel that incidents of financial fraud increased due to the increase in digital banking.

Attacking the organized gang system
On behalf of banks it was informed that due to cyber attacks, incidents of fraud in digital banking have increased. According to sources, the banks also told the panel that in the last few months, organized gangs have increased attacks on the banking system.Banks told the panel that most financial frauds are being done by taking advantage of the technical flaws of the system through a larger browser.

Fraud amount also increased
Banks told the panel that the number of frauds has increased in addition to the increase in the amount of fraud. Banks said that FSR labeled cyber attack is the most dangerous for the Indian banking sector.
Banks also informed the panel that the technical flaws have been removed and now Advance Technology is being used, due to which fraud effort can be easily caught.

After the government and RBI instructions the existing flaws have been removed. Let us know that according to RBI data, there has been an increase of 19.4 per cent in banking fraud in the last five years.