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India Sees Rise in Credit Card Fraud Cases

A Worrying Trend for Financial Institutions and Law Enforcement Agencies

According to the latest statistics, India has witnessed a significant surge in credit and debit card fraud cases in 2022. The state of Bihar emerged as the hotbed of such crimes, with approximately 562 cases reported to the authorities.

Nationwide Statistics

• Over 1,600 cases of credit and debit card frauds were reported across the country
• Bihar accounted for 562 cases, followed by Uttar Pradesh (344), Maharashtra (243), and West Bengal (234)

These incidents are categorized under Section 420 of the Indian Penal Code. Experts attribute the rise in credit card frauds to:

• The increasing use of digital payment modes
• Lack of awareness among consumers about cybersecurity threats
• The ease with which cybercriminals can carry out such crimes

Government Efforts to Curb Fraud

The government has been taking steps to curb these incidents, including:

• Implementing stricter regulations for financial institutions
• Increasing public awareness campaigns

However, more needs to be done to prevent these frauds and protect consumers’ sensitive information.

Follow-up

For related stories on cybersecurity threats in India, see our special report: Cybercrime on the Rise: India’s Struggle to Stay Secure

Also, read our exclusive interview with a leading expert on cyber security who shares his insights on how individuals can protect themselves from credit card frauds.