कोशिश गोल्ड - मुक्त

Combating UPI frauds

Business Standard

November 29, 2024

Rising cases can affect confidence

Digital-payment transactions have demonstrated remarkable expansion over the past few years. However, unprecedented growth in this area in India has been accompanied by a surge in related frauds.

The recent data shared by the Union Ministry of Finance before Parliament shows the monetary value of frauds related to Unified Payments Interface (UPI) rose to ₹1,087 crore in 2023-24, an 89 per cent increase over the ₹573 crore in 2022-23.

Alarmingly, payment-fraud incidents also nearly doubled from 725,000 in 2022-23 to 1.34 million in 2023-24. In the first half of this financial year, India reported 632,000 cases of UPI frauds, involving ₹485 crore. The numbers are concerning and could dent users' confidence, affecting growth.

यह कहानी Business Standard के November 29, 2024 संस्करण से ली गई है।

हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।

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