Indian businesses turn to data analytics, ML to fight fraudulent practices

A recent report from PwC found that Indian businesses report a much higher incident of financial crimes than their global peers

Financial, economic and cyber frauds have become all-too-frequent in the country, affecting not just individuals but also establishments, causing wide-spread disruption to business activity. About six out of every ten businesses in the country have been a victim of fraud, corruption or some other type of financial crime in the past two years, according to a recent report. 

This is over and above what an ordinary Indian loses to cyber crimes every year. Indians saw their wallets drained of Rs 485 crore to fraud on Unified Payments Interface (UPI) platforms across 632,000 reported incidents during the ongoing financial year 2025