At 18%, Indian customers biggest victims of banking fraud: FIS study

One of every four people in the 27-37-year age group, the most prolific in using digital banking apps, reported a fraud in the past year

Indian consumers have taken to digital banking in a big way, but they are also among the biggest victims of banking frauds, shows a new report released by payments company FIS. The report, surveying people across multiple countries, found that 18 per cent of Indian customers reported a fraud in the past year – more than any other country surveyed by the organisation. 

These frauds occur across all ages and correlate with the frequency of usage of digital banking by different age groups, according to the report. For instance, the age group most affected by frauds is 27-37 years. These