‘Pay… Paid’: How India plans to put paid to frauds adding delay to first-time digital payments of over Rs 2,000
1 year, 3 months ago

‘Pay… Paid’: How India plans to put paid to frauds adding delay to first-time digital payments of over Rs 2,000

Firstpost  

In order to curb scams that use online transactions, the government of India is thinking of ways to add some friction bewteen first time transactions between two parties, if the amount is over Rs 2,000 The government of India is planning to add friction in the way first-time online transitions are done between two parties, in order to combat online payment frauds. In a move aimed at curbing the surge in online payment frauds, the government is considering the introduction of a minimum time limit for the first transaction between two individuals, particularly for amounts exceeding Rs 2,000, as per a report by the Indian Express. One way using which friction could be introduced in this process is by introducing a four-hour window for the initial transaction to be realised and settled in full between two users in digital payments, when they make a transaction for the first time While this measure may introduce some friction in digital payments, officials argue that it is necessary to address cybersecurity concerns. A senior government official, speaking on condition of anonymity, stated, “We are looking to add a time limit of four hours for first-time digital transactions over Rs 2,000.

Digital Payments Pay Payment User Digital Transaction India Plans  india  plans  rs  users  online  paid  pay  frauds  firsttime  payments  transactions  digital  transaction  friction  delay  payment  user

History of this topic

UPI dominates digital payments
1 month ago

UPI dominates digital payments

Deccan Chronicle  

Mumbai: India’s digital payments landscape is undergoing an unprecedented transformation, with Unified Payments Interface emerging as the dominant force driving financial inclusion, merchant adoption, and cross-border transactions. According to an industry report, “Crafting the Future of Real-Time Payments: From Less Cash to Cashless” by The Digital Fifth, UPI now drives 84 percent of all digital transactions in India, solidifying its …

RBI MPC meeting 2025: Banks to have ‘bank.in’ internet domain name, non-banks ‘fin.in’
1 month, 2 weeks ago

RBI MPC meeting 2025: Banks to have ‘bank.in’ internet domain name, non-banks ‘fin.in’

The Hindu  

In order to check cyber security threats, the Reserve Bank on Friday decided that Indian banks will have exclusive internet domain name 'bank.in' and non-bank financial entities 'fin.in'. Unveiling the last bi-monthly monetary policy of this fiscal year, RBI Governor Sanjay Malhotra said registrations for 'bank.in' will commence from April 2025, and going forward 'fin.in' will be introduced. The initiative …

1 in 3 Indians using real-time payments scammed in 2024, high-value losses doubled: Fico survey
1 month, 3 weeks ago

1 in 3 Indians using real-time payments scammed in 2024, high-value losses doubled: Fico survey

Firstpost  

The ‘2024 Scams Impact Survey: India’ revealed that 34 per cent of respondents had paid for products, services, or investments that were never delivered. Additionally, 45 per cent believed that enhancing fraud detection systems was the most crucial step banks could take to prevent scams One in every three Indians lost money to scamsters in the past year while high-value …

India's 'digital arrest' scammers stealing savings
2 months ago

India's 'digital arrest' scammers stealing savings

Hindustan Times  

Within five hours while sitting at home in India, retired professor Kamta Prasad Singh handed over his hard-earned savings to online fraudsters impersonating police. HT Image {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The cybercrime known as "digital arrest" where fraudsters pose online as law enforcement officials and order people to transfer huge amounts of money has become so rampant that Prime Minister …

From home to bank, digital arrest goes a long way, foiled in nick of time
2 months, 3 weeks ago

From home to bank, digital arrest goes a long way, foiled in nick of time

Hindustan Times  

letters@hindustantimes.com the branch staff, with their prudence and proactive approach, saved the customer from being a victim of cyber fraud and thwarted the attempt to cheat ₹ 90 lakh by digital arrest. What raised the bank staff’s suspicions even more was the fact that the customer – a retired government servant and resident of Aashiana -- was continuously on video …

Beware of ’digital arrest’ scam, NPCI’s must-know tips to protect your money, identity
3 months ago

Beware of ’digital arrest’ scam, NPCI’s must-know tips to protect your money, identity

Live Mint  

The National Payments Corporation of India has sounded the alarm about a growing threat to digital payment users: the "Digital Arrest" scam. Early identification of potential scams helps protect you and your loved ones, fostering a safer, less-cash economy, for everyone.” The ‘Digital Arrest’ scam is a sophisticated form of cyber fraud. Scammers pretend to be law enforcement or financial …

UPI users alert: Staggering Rs 485 crore lost to fraud in the first half of 2024-25
3 months, 3 weeks ago

UPI users alert: Staggering Rs 485 crore lost to fraud in the first half of 2024-25

India TV News  

The popularity of digital payments in India has skyrocketed, especially with the rise of smartphones and the Internet. Shocking Figures on Fraud A recent report revealed that in the first half of the year 2024-25, Indians lost around Rs 485 crore due to online fraud related to UPI payments. Looking back at previous years, in 2022-23, about 2.7 million people …

India at the Forefront of Digital Revolution: RBI’s Patra
4 months, 1 week ago

India at the Forefront of Digital Revolution: RBI’s Patra

Deccan Chronicle  

Mumbai: India is at the forefront of the digital revolution and financial technology is speeding up digital payments, the Reserve Bank of India Deputy Governor Michael Debabrata Patra said on Wednesday. Patra in his inaugural address at the DEPR Conference on 'Digital Technology, Productivity and Economic Growth in India' said that the country is uniquely positioned to unlock new growth …

Cyber-Secure India: A Collective Effort to Protect Citizens from Digital Crimes
4 months, 2 weeks ago

Cyber-Secure India: A Collective Effort to Protect Citizens from Digital Crimes

Hindustan Times  

Cybersecurity is a top priority for the Indian government, with the country witnessing a surge in digital connectivity and a corresponding rise in cybercrimes. However, authorities have been proactive in safeguarding citizens from these threats, disconnecting fraudulent mobile connections and blocking over ₹2,400 crore in suspicious transactions. The government has also launched an indigenously developed International Incoming Spoofed Calls Prevention …

RBI Introduces Delegated Payment Through UPI, Cheque Clearing Time Reduced
7 months, 1 week ago

RBI Introduces Delegated Payment Through UPI, Cheque Clearing Time Reduced

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Thursday proposed to introduce Delegated Payments’ in UPI. Delegated Payments would allow an individual to set a UPI transaction limit for another individual on the primary user’s bank account. In another major announcement, the RBI also enhanced the limit for tax payments through UPI from ₹1 lakh to ₹5 lakh per transaction. At …

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project
7 months, 2 weeks ago

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project

The Hindu  

Google, PhonePe, Amazon Pay, Cred and Mobikwik are looking to join Indian central bank’s digital currency project by offering transactions in e-rupee, a digital alternative to the physical currency. The news comes as transactions using the digital currency reached over a million a day last year, however, they have declined ever since, to about 100,000-200,000 a day. However, in April …

UPI Disruptions Not NPCI's Fault, Banks' Outdated Tech Is Responsible, Says RBI Guv
9 months, 1 week ago

UPI Disruptions Not NPCI's Fault, Banks' Outdated Tech Is Responsible, Says RBI Guv

News 18  

UPI customers around the country have recently been experiencing difficulties due to issues with digital payments. The National Payments Corporation of India, which oversees the UPI platform, is not the primary cause of the frequent disruptions in UPI payments, according to Reserve Bank of India Governor Shaktikanta Das. Furthermore, UPI transactions reach 450 million per day, and according to NPCI …

Banks rely on AI as digital transactions grow, and methodology of frauds evolves
10 months, 2 weeks ago

Banks rely on AI as digital transactions grow, and methodology of frauds evolves

Hindustan Times  

India’s digital transactions continue to see rapid growth, and that translates to big volumes. On April 24, the Reserve Bank of India barred Kotak Bank from issuing new credit cards for now, due to “the absence of a robust IT infrastructure and IT Risk Management framework.” It draws on a mix of factors, including reliability of the bank’s infrastructure alongside …

Tech Tonic | The gaps in India’s digital payments ecosystem need plugging
10 months, 3 weeks ago

Tech Tonic | The gaps in India’s digital payments ecosystem need plugging

Hindustan Times  

There is little doubt that Indians are spending more than ever before. You cannot use your credit card or debit card for subscriptions and recurring payments on the Apple App Store or the Google Play Store, be it for any app or service. Then there was a pursuit of getting RuPay credit cards aboard the UPI or unified payments interface. …

5 new ways to use UPI payments as 2024 begins with these rule changes
1 year, 2 months ago

5 new ways to use UPI payments as 2024 begins with these rule changes

Hindustan Times  

As we enter the new year, it's essential to take note of the UPI rules that have been changed. National Payments Corporation of India have instructed payment apps to deactivate inactive UPI IDs after one year. Users of platforms like Google Pay and PhonePe must verify and ensure their UPI IDs remain active, also reviewing associated phone numbers for inactivity. …

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access
1 year, 2 months ago

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access

The Quint  

The committee on Deepening Digital Payments constituted by the RBI in 2019 under the chairmanship of Nandan Nilekani had recommended that market forces should drive transaction prices for the inclusion of small startups and incentivising innovation. It underlined that while banks have a role in contributing to the payment system, the government and the RBI should also share the cost …

Govt plans to introduce 4-hour window to reverse online payments above ₹2,000
1 year, 3 months ago

Govt plans to introduce 4-hour window to reverse online payments above ₹2,000

Live Mint  

In a bid to combat online payment frauds, the government is reportedly mulling over introducing maximum time for first-time transactions between two users for a digital payment. The proposed measure would cover not just include Unified Payments Interface but also other digital payment methods such as Immediate Payment Service and Real Time Gross Settlement, the report added. This year, the …

India's UPI leads the way in global non-cash transaction boom
1 year, 6 months ago

India's UPI leads the way in global non-cash transaction boom

India TV News  

India's UPI leads the way in global non-cash transaction boom In August, UPI-based payments in India achieved a milestone by surpassing 10 billion monthly transactions for the first time, as reported by the National Payments Corporation of India. According to IANS, the report pointed out that in 2022, UPI payments in India were more popular than credit and debit card …

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:
1 year, 6 months ago

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:

ABP News  

In a recent keynote address at the G20 TechSprint Finale, Reserve Bank of India Governor Shaktikanta Das drew attention to the challenges surrounding cross-border payments, emphasising the issues of high costs and slow transaction speeds. Das indicated that the central bank digital currency — dubbed Digital Rupee — instant-settlement feature could offer a viable solution to these challenges. Despite advancements …

Paytm unveils fully indigenous technology-powered upgraded payments platform
1 year, 11 months ago

Paytm unveils fully indigenous technology-powered upgraded payments platform

Live Mint  

Paytm, the payments and financial services platform owned by One97 Communications, has announced the release of its new technology platform developed entirely in-house. The company claims that Paytm has been a game-changer in the mobile, QR, and soundbox payments space, and its new platform is set to revolutionize digital transactions, making financial services more accessible and affordable. Paytm, which has …

Beware of random fund transfers, police advise digital wallet users
2 years ago

Beware of random fund transfers, police advise digital wallet users

The Hindu  

Complaints of new cyber frauds of payment transfers through payment applications have been reported in the last week across the State, say the police. Director-General of Police C. Sylendra Babu appealed to the public to be more vigilant on the new frauds and to report to the police within 24 hours so that fraudulent money transfers can be stopped. Mr. …

India’s digital payments market will grow to USD 10 trillion by 2026
2 years ago

India’s digital payments market will grow to USD 10 trillion by 2026

Op India  

In a country witnessing rapid growth, it comes as no surprise that India also has one of the fastest-growing fintech landscapes in the world, driven primarily by the advancement in digital payments segment. A recent report by PhonePe and Boston Consulting Group concluded that India’s digital payments market will more than triple from USD 3 trillion to USD 10 trillion …

RBI asks banks, NBFCs to promote digital payments
2 years ago

RBI asks banks, NBFCs to promote digital payments

The Hindu  

The Reserve Bank of India has unveiled “Har Payment Digital” as part of Digital Payments Awareness Week 2023 to make every person in India a user of digital payments. Stating that payment systems in India have witnessed over 1000 crore transactions every month since December 2022, he said “This speaks volumes of the robustness of our payments ecosystem and acceptance …

Har Payment Digital: RBI launches mission to make every citizen a user of digital payment
2 years ago

Har Payment Digital: RBI launches mission to make every citizen a user of digital payment

India TV News  

Reserve Bank of India governor Shaktikanta Das launched the "Har Payment Digital" mission on Monday, as part of the Digital Payments Awareness Week 2023. Image Source : PIB TWITTERHar Payment Digital: RBI launches mission to make every citizen a user of digital payment The HPD mission will run until the period of Vision 2025, to convert non-users into users of …

'Net' Gains: Digital Transactions in India in 2022-23 Break All Records
2 years, 1 month ago

'Net' Gains: Digital Transactions in India in 2022-23 Break All Records

News 18  

The number of digital transactions in India in this financial year is at a historic high, zooming past the last fiscal’s figure with still three months to go. The latest government data reveals that 9,192 crore digital transactions have been done in the country in this financial year till December 31, 2022. The total value of digital transactions in India …

India records more digital payments than US, UK, Germany & France: Vaishnaw
2 years, 2 months ago

India records more digital payments than US, UK, Germany & France: Vaishnaw

Hindustan Times  

Union minister Ashwini Vaishnaw on Friday said India's digital payments transactions last year exceeded those of the combined digital payments of United States, United Kingdom, Germany and France, ANI reported. "In December 2022, the digital payments transactions amounted to $1.5 trillion annualised basis. If you compare total digital transactions in US, UK, Germany and France and combine them, India's figures …

Big boost to Digital India! Govt approves Rs 2,600cr incentive scheme for RuPay, BHIM-UPI transactions
2 years, 2 months ago

Big boost to Digital India! Govt approves Rs 2,600cr incentive scheme for RuPay, BHIM-UPI transactions

India TV News  

In a big boost to Digital India initiative, the Centre has approved has approved an incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions for a period of one year from April 2022. The approved incentive scheme will focus on promoting Point-of-Sale and e-commerce transactions using RuPay Debit Cards and low-value BHIM-UPI transactions for the current financial …

Centre earmarks ₹2,600 crore as incentive for banks to promote digital payments
2 years, 2 months ago

Centre earmarks ₹2,600 crore as incentive for banks to promote digital payments

The Hindu  

The Union Cabinet approved an outlay of ₹2,600 crore to promote payments using RuPay cards and the Unified Payments Interface, Union Minister Bhupendra Yadav announced on Wednesday. Banks will be provided this incentive money to promote such digital payments, the Cabinet said in a press release. “The scheme will also promote UPI Lite and UPI 123PAY as economical and user-friendly …

India's digital rupee fails to excite interest, bankers say
2 years, 3 months ago

India's digital rupee fails to excite interest, bankers say

The Hindu  

A month into India's pilot project for using an official digital rupee for inter-bank and institutional transactions, stakeholders are seeing no benefits, several bankers said. Indeed, the e-rupee, one of several central bank digital currencies being tried around the world, had a drawback, they said: each trade using it had to be settled individually, whereas trades in the established interbank …

Time is right for a digital rupee
2 years, 3 months ago

Time is right for a digital rupee

Hindustan Times  

Starting this month, the Reserve Bank of India will begin a pilot project that will put a digital rupee, or e ₹, in the hands of individuals. In simple terms, a CBDC is the closest virtual equivalent of cash with the liability for its value resting directly with the central bank, instead of — as is the case at present …

5 Most Common Online Payment Frauds in India That You Must Know
2 years, 6 months ago

5 Most Common Online Payment Frauds in India That You Must Know

News 18  

With digital transactions taking over, we are increasingly seeing more online payment fraud. WATCH VIDEO: iPhone 13, 12 Prices Slashed After iPhone 14 Launch 1) UPI Frauds It is widely acknowledged that UPI is the most common way to make day-to-day payments in India. 2) Remote Access/Screen Sharing Frauds Time and again, we have seen the elderly and people new …

Digital currency to bring down time, cost for cross-border transactions: RBI’s Sankar
2 years, 6 months ago

Digital currency to bring down time, cost for cross-border transactions: RBI’s Sankar

The Hindu  

Central bank digital currency, to be launched this year, could become a tool for reducing time and cost for cross-border transactions, Reserve Bank Deputy Governor T. Rabi Sankar said on Wednesday. Explained | RBI’s digital currency plans Observing that India has an excellent, cheap and fast domestic payments system, he said the cost of cross-border payment, however, is still high. …

FM Nirmala Sitharaman: Not the Right Time to Make Digital Payments Chargeable
2 years, 6 months ago

FM Nirmala Sitharaman: Not the Right Time to Make Digital Payments Chargeable

News 18  

UPI Payment Charges: Finance minister Nirmala Sitharaman has said that the central government sees digital payments a public good and that it is not the right time to make them chargeable. The comments made by the finance minister come days after the Centre said that the government had no consideration to make UPI payments chargeable, after the Reserve Bank of …

UPI: the dawn of digital fintech nirvana
2 years, 8 months ago

UPI: the dawn of digital fintech nirvana

The Hindu  

If you own a smartphone, you have most probably done UPI-based payments using BHIM or some other mobile application. Secondly, a Payment Service Provider takes care of the to-and-fro transactions to this VPA and finally, the UPI software orchestrates the fund movement from a customer’s VPA to a target VPA and completes the transaction. A ubiquitous payment system The popularity …

RBI unveils Payments Vision 2025 with intent to increase e-payments
2 years, 9 months ago

RBI unveils Payments Vision 2025 with intent to increase e-payments

India TV News  

Highlights The core theme of the vision documents is E-Payments for Everyone, Everywhere, Everytime The volume of cheque-based payments are expected to be less than 0.25% of total retail payments UPI is expected to register average annualised growth of 50% and IMPS/ NEFT at 20% The RBI on Friday came out with its 'Payments Vision 2025' document which seeks a …

Modi govt 8 years: How India outpaced world in UPI, digital payments
2 years, 9 months ago

Modi govt 8 years: How India outpaced world in UPI, digital payments

India TV News  

Long gone are the days when people use to stand in the long queue at ATMs or at banks to withdraw money. Today, his will effort towards the technological advancement, and support of great engineers, UPI payments were launched in the nation on 11th April 2016 by Dr Raghuram G Rajan, Governor, RBI. And eventually, various banks started to upload …

Govt testing UPI Lite to allow payments without internet
3 years, 1 month ago

Govt testing UPI Lite to allow payments without internet

Live Mint  

BENGALURU :The National Payments Corp. of India is testing a solution that will allow Unified Payments Interface -based digital payments without active internet connection, according to multiple people familiar with the development. The solution, called UPI Lite, will likely be used first to enable digital payments under ₹200 in rural areas, the people, including three government officials and a senior …

RBI's push for card security to hit merchants, lenders
3 years, 3 months ago

RBI's push for card security to hit merchants, lenders

The Hindu  

The Reserve Bank of India's plans to move towards card tokenisation is likely to hit a wide range of companies from major e-commerce firms and food delivery firms to lenders, while increasing the use of cash, said industry sources and bankers. "Introducing an additional step in payments adds friction and several studies show that customers may end up dropping out …

RBI to soon float paper on reasonableness of charges on transactions via digital payments
3 years, 3 months ago

RBI to soon float paper on reasonableness of charges on transactions via digital payments

India TV News  

With a view to make digital transactions more affordable, the Reserve Bank of India will soon come out with a discussion paper on the reasonableness of charges on transactions through digital mode. Observing that concerted efforts by all stakeholders have led to a significant increase in digital payments in recent years, RBI Governor Shaktikanta Das said there have, however, been …

Digital Transactions This Financial Year May Touch Volume of 70 Billion, Cross Pandemic Year Record
3 years, 3 months ago

Digital Transactions This Financial Year May Touch Volume of 70 Billion, Cross Pandemic Year Record

News 18  

The volume of digital payments made by Indians in the current financial year is set to hit 70 billion at the current pace and easily surpass the record levels of 2020-21 when the Covid-19 pandemic had hit home and made people shift to doing digital payments in a big way. This is already in touching distance of 45.72 billion digital …

Still Strong Bias for Cash Payment; Need to Reassess PSS Act: Report
3 years, 5 months ago

Still Strong Bias for Cash Payment; Need to Reassess PSS Act: Report

News 18  

The pandemic forced an inevitable shift to digital payments but Indians continue to have a strong bias for cash payments, a report said. Due to the emergence of disruptive technologies leading to technology led payment solutions, there is a need to reassess the Payment and Settlement Systems Act, 2007, a key enabler for promoting digital transactions, the report by Vidhi …

RBI's Guidelines For Digital Payment Companies – An Analysis
3 years, 8 months ago

RBI's Guidelines For Digital Payment Companies – An Analysis

Live Law  

India has always been inclined towards cash transactions. With the increase in usage of mobile phones and the accessibility of the internet, the digital payments system in India has witnessed exponential growth. The digital payment system is a revolution in India, and all banks and financial service providers are entering the field, which makes it essential to have specific and …

Consumers more concerned about digital payment frauds: Survey
3 years, 9 months ago

Consumers more concerned about digital payment frauds: Survey

Live Mint  

Bengaluru: Indian consumers are increasingly concerned about digital payments and look to exercise greater caution, according to a new study conducted by YouGov and digital payment software, ACI Worldwide. Almost 71% of consumers surveyed by YouGov and ACI Worldwide are more concerned about scams and fraud owing to the shift to digital methods of payments due to covid-19. When it …

Debit Card, Credit Card Rule: Can't Use New Card for Online Transactions? Know How to Activate it
3 years, 10 months ago

Debit Card, Credit Card Rule: Can't Use New Card for Online Transactions? Know How to Activate it

News 18  

Amid rising cases of banking frauds in the country, the Reserve Bank of India has introduced several measures for secure debit and credit card transactions. For online transactions: To enable any other facilities including online transactions, international transactions and contactless transactions in the debit and credit cards, customers need to approach the bank. How to activate online transactions in your …

Online automatic transactions will not fail from April 1, RBI extends deadline by 6 months
3 years, 11 months ago

Online automatic transactions will not fail from April 1, RBI extends deadline by 6 months

India Today  

The Reserve Bank of India has now extended the timeline for implementation of new guidelines for automatic payment system by six months. Previous reports had noted that the RBI had refused to grant an extension to banks following which banks started notifying customers about failure in automatic recurring payments from April 1. For transactions above Rs 5000, banks will also …

Paytm Clocks 1.2 Billion Monthly Transactions As Atmanirbhar Digital Bharat Push Reaps Rewards
4 years ago

Paytm Clocks 1.2 Billion Monthly Transactions As Atmanirbhar Digital Bharat Push Reaps Rewards

News 18  

Indian digital payments platform Paytm has clocked more than 1.2 billion monthly transactions and says that this 15% month-on-month growth means that the platform recorded the most number of transactions among all digital payments platforms. Paytm says that there has been a steady increase in the number of users who use the platform for digital payments, also availing financial services …

Digital Payment Security Control Rules Incoming For UPI And Credit Cards: How Does This Impact You?
4 years, 3 months ago

Digital Payment Security Control Rules Incoming For UPI And Credit Cards: How Does This Impact You?

News 18  

The Reserve Bank of India has confirmed that they will be releasing the new digital payment security control rules. The Reserve Bank of India Directions, 2020 will come at a time when digital transactions are at their highest in terms of popularity as well as transaction value and will cover multiple instruments and methods including internet banking, mobile banking, UPI …

$271 bn consumer spending to shift from cash to cards,digital payments by 2023 in India:Accenture
4 years, 3 months ago

$271 bn consumer spending to shift from cash to cards,digital payments by 2023 in India:Accenture

The Hindu  

About 66.6 billion transactions worth USD 270.7 billion are expected to shift from cash to cards and digital payments by 2023 in India, and further increase to USD 856.6 billion by 2030, a report by Accenture said on Tuesday. This rapid shift to digital payments due to the COVID-19 pandemic is urgently increasing the need for banks to modernise their …

'Exponential' Spike in Financial Frauds Due to Dependence on Digital Payment Platforms amid Pandemic: NSA
4 years, 6 months ago

'Exponential' Spike in Financial Frauds Due to Dependence on Digital Payment Platforms amid Pandemic: NSA

News 18  

Asking citizens to be cautious while being online, National Security Adviser Ajit Doval said on Friday financial frauds have seen an exponential increase due to greater dependence on digital payment platforms following the COVID-19 pandemic. “There is a greater dependence on digital payment platform due to reduced cash handling and greater data sharing is happening online and presence on social …

Discover Related