Card and internet fraud cases up 257% since Covid-19 pandemic began

There was a 289% jump in the amount defrauded through these modes, while the amount swindled through cash frauds increased 182%

Card and internet frauds have more than trebled since the pandemic began in 2020.

There has been a 257 per cent increase in the number of such cases, with 6,659 instances recorded in 2022-23, shows data from the Reserve Bank of India’s (RBI’s) annual report. This is the highest since at least 2011-12, a Business Standard analysis of past RBI publications has found. The number of such cases in 2011-12 was 629 – less than one-tenth of the latest figure (chart 1).

The amount involved has also shot up. The total value of detected frauds involving cards and the internet