Executive Summary:
This document presents the Indian government's response to questions regarding cyber and financial fraud cases in the country. It provides data on reported cases, amounts lost and recovered from FY 2020-21 to FY 2024-25 and outlines steps taken to protect account holders from cyber fraud. The data is categorized bank-wise and state-wise, including Odisha.
Key Points / Main Content:
* **Data on Financial Frauds:**
* Increasing digital payment transactions have led to a rise in fraudulent practices.
* Bank-wise and state-wise data on digital payment, card/internet, and digital lending app-based frauds from FY 2020-21 to FY 2024-25 is provided in Annex 1 and Annex 2, respectively, based on the date of reporting to RBI.
* **Government and RBI Initiatives:**
* The Central Government supports states/UTs with advisories and financial assistance to strengthen their Law Enforcement Agencies (LEAs).
* RBI issued Master Directions on Digital Payment Security Controls in February 2021, mandating minimum security standards for payment channels.
* RBI and banks are conducting awareness campaigns via SMS, radio, and publicity.
* RBI launched an AI-based tool called MuleHunter to identify money mules.
* NPCI has implemented device binding, two-factor authentication, transaction limits, and AI/ML-based fraud monitoring for UPI transactions.
Impact Analysis:
* **Banks and Financial Institutions:**
* *Impact:* Must adhere to RBI's Master Directions on Digital Payment Security Controls, implement MuleHunter, and utilize NPCI's fraud monitoring solutions.
* *Action Required:* Implement and maintain security controls, use MuleHunter to identify money mules, and integrate NPCI's fraud monitoring solution.
* **Account Holders:**
* *Impact:* Benefit from increased security measures, including device binding and transaction limits for UPI, and from increased awareness campaigns.
* *Action Required:* Stay informed about cyber fraud prevention measures and practice safe digital payment habits.
* **State/UT Law Enforcement Agencies (LEAs):**
* *Impact:* Primarily responsible for preventing, detecting, investigating, and prosecuting cybercrimes.
* *Action Required:* Utilize central government support to build capacity and effectively address cybercrime.
Key Entities Referenced
Ministry of Finance : The Indian government ministry responsible for financial matters.
Reserve Bank of India (RBI) : The central bank of India, responsible for regulating the banking system and issuing currency.
Odisha : A state in eastern India, specifically mentioned in the context of financial fraud cases.
Constitution of India : The supreme law of India, which defines the framework of political principles, procedures, powers, and duties of government institutions.
National Payments Corporation of India (NPCI) : An organization in India that operates retail payments and settlement systems.
Master Directions on Digital Payment Security Controls : Guidelines issued by the RBI in February 2021 to enhance the security of digital payments.
Artificial Intelligence (AI) : Technology used by RBI to create tools like MuleHunter for identification of money mule accounts.
MuleHunter : An AI-based tool launched by RBI for identification of money mule accounts.
See Full Document Text
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES
LOK SABHA
UNSTARRED QUESTION NO.90
ANSWERED ON THE MONDAY, JULY 21, 2025/ASHADHA 30, 1947 (SAKA)
LOSSES DUE TO FINANCIAL FRAUDS
90. SHRI ANTO ANTONY:
SHRI BAIJAYANT PANDA:
Will the Minister of FINANCE be pleased to state:
(a) whether the Government has any data regarding the number of cyber fraud and
financial fraud cases reported in the country;
(b) the details of the total number of such cases and quantum of money lost and
recovered in the country during the last five years, year-wise, bank-wise and State-wise
including Odisha;
(c) the number of financial/cyber crime complaints reported and lodged from Odisha in
2024 compared to those in 2023; and
(d) the steps taken by the Government to protect account holders from cyber frauds?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI PANKAJ CHAUDHARY)
(a) to (c): With increasing digital payment transactions in the country, incidences of
fraudulent practices including digital payment frauds have also gone up in the last few
years. ‘Police’ and ‘Public Order’ are State subjects as per the Seventh Schedule of the
Constitution of India. The States/UTs are primarily responsible for the prevention,
detection, investigation and prosecution of crimes including cyber crime through their Law
Enforcement Agencies (LEAs). The Central Government supplements the initiatives of
the States/UTs through advisories and financial assistance under various schemes for
capacity building of their LEAs.
The bank-wise and state-wise data including the state of Odisha under the category
‘Digital Payments, Card/Internet and Advances-Digital Lending (app based)’ from FY
2020-21 to FY 2024-25 as reported by banks to RBI based on date of reporting are
provided in Annex 1 and Annex 2 respectively.
(d): RBI has issued Master Directions on Digital Payment Security Controls in February,
2021 to combat web and mobile app threats. These guidelines mandate the banks to
implement a common minimum standards of security controls for various payment
channels like internet, mobile banking, card payment etc. RBI and banks have also been
taking up awareness campaigns through short SMS, radio campaign, publicity on
prevention of ‘cyber-crime’ etc. RBI has further launched an Artificial Intelligence (AI)
based tool ‘MuleHunter’ for identification of money mule and advised the banks and
financial institutions for its uses.
Further, in order to prevent frauds related to UPI transaction, NPCI has implemented
device binding between mobile number and the device, two-factor authentications
through PIN, daily transaction limit, limits and curbs on use cases etc. NPCI also provides
a AI / Machine Learning (ML) based fraud monitoring solution to all the banks to generate
alerts and decline transactions.
******Annex-1
Bank wise data under the area of operations Digital Payments, Card/Internet and Advances-Digital Lending(app based) from FY 2020-21 to FY 2024-15 as reported by Banks to RBI based on date of reporting.
FY 2020-21 2021-22 2022-23 2023-24 2024-25
Total Total Total Extent Total Extent Total
Extent of amount Extent of amount Extent of amount of Loss amount of Loss amount
Sl. Number of Loss (in recovered Number of Loss (in recovered Number of Loss (in recovered Number of (in recovered Number (in recovered
No. Name of Bank Frauds Crore) (in Crore) Frauds Crore) (in Crore) Frauds Crore) (in Crore) Frauds Crore) (in Crore) of Frauds Crore) (in Crore)
1 Airtel Payments Bank Limited 2 0.01 0.00 7446 0.00 0.00 44569 3.24 0.85 19697 0.24 0.17
2 American Express Banking Corp. 1881 11.46 0.58 2257 6.47 1.01 2302 10.73 0.53 2587 11.92 0.69 2043 7.64 0.36
3 AU Small Finance Bank Limited 3 0.00 0.00 374 0.12 0.01 3476 1.84 1.16 4025 0.26 0.08
4 Axis Bank Limited 5256 1.80 3.29 5526 5.27 2.28 7183 6.65 0.81 32069 13.40 3.87 17325 17.37 6.56
5 Bandhan Bank Limited 133 0.16 0.14 216 0.32 0.23 48 0.34 0.00 2236 0.00 0.00 2534 0.00 0.00
6 Bank of America , National Association 74 0.00 0.11 17 0.00 0.02 29 0.01 0.10
7 Bank of Bahrain & Kuwait B.S.C. 3 0.01 0.00 3 5.44 0.00
8 Bank of Baroda 6 0.04 0.00 3 1.20 0.00 629 0.98 0.05 11923 1.44 1.28 2990 0.26 0.00
9 Bank of India 1 0.10 0.00 2 0.00 0.00 80 0.26 0.48 29 1.08 0.00
10 Bank of Maharashtra 3 0.02 0.05 17 0.16 0.00 438 1.17 0.00 57 0.00 0.29
11 Canara Bank 8 1.34 0.35 4 0.30 2.95 2 0.20 0.36 6 0.64 6.22 181 7.11 3.69
12 Capital Small Finance Bank Limited 25 0.00 0.00 15 0.00 0.00 12 0.00 0.00 51 0.00 0.00 1 0.00 0.00
13 Central Bank of India 837 3.66 0.19 1120 4.52 0.00 416 1.88 0.00 2279 6.18 0.82 386 0.45 0.44
14 Citibank N.A 1429 5.80 0.34 1207 6.15 0.27 1661 5.16 0.26 16275 1.44 0.00 576 3.28 0.00
15 City Union Bank Limited 219 0.00 0.01 65 0.00 0.07 236 0.00 0.00 1818 0.00 0.00 571 0.00 0.00
16 CSB BANK LIMITED 20 0.03 0.00 3 0.01 0.00 18 0.00 0.00 246 1.97 0.00 130 0.00 0.00
17 DBS Bank India Ltd. 149 0.06 0.01 108 0.00 0.01 138 0.01 0.08 3965 0.27 0.86 623 0.06 0.08
18 DCB Bank Limited 80 0.00 0.07 41 0.00 0.02 4 0.00 0.02 84 0.00 0.03 4 0.00 0.01
19 Deutsche Bank Ag 24 0.09 0.00 8 0.03 0.01 214 0.01 0.00 132 0.00 0.00 41 0.01 0.00
20 Doha Bank Qsc 1 0.01 0.00 1 0.00 0.00 1 0.00 0.00
21 Equitas Small Finance Bank Limited 8 0.11 0.01 11 0.02 0.00 240 0.00 0.00 1636 0.22 0.00 617 0.00 0.00
22 ESAF Small Finance Bank Limited 3 0.00 0.00 1 0.00 0.00 11 0.00 0.00 8 0.00 0.02 5 0.00 0.0023 Federal Bank Ltd 283 0.75 0.00 263 0.35 0.07 983 0.12 0.11 12303 29.67 0.47 3050 0.00 0.35
24 Fincare Small Finance Bank Limited 10 0.01 0.00 26 0.00 0.00 119 0.00 0.00
25 Fino Payments Bank Limited 1587 3.67 0.86 160 0.00 0.03
26 HDFC Bank Ltd. 3743 10.82 0.07 4436 13.11 0.19 1766 4.29 4.02 9351 6.30 41.58 35074 3.43 12.08
27 Hongkong And Shanghai Banking Corpn.Ltd. 2577 2.08 5.80 2453 1.24 6.95 1705 0.31 3.16 3005 2.31 4.54 3852 1.53 16.76
28 ICICI Bank Limited 1009 7.76 0.00 4895 17.36 0.54 5755 14.43 0.20 28947 47.88 0.10 12108 31.56 0.49
29 IDBI Bank Limited 1821 0.06 0.04 1692 0.00 0.02 607 0.00 0.00 522 0.00 0.03 317 0.00 0.15
30 IDFC First Bank Limited 163 0.98 0.00 170 0.31 0.01 541 0.39 0.04 1210 0.06 0.02 398 0.18 0.00
31 India Post Payments Bank Limited 92 0.00 0.00 37 0.00 0.00
32 Indian Bank 75 6.82 0.49 84 6.80 0.05 118 0.26 0.05 1397 15.34 1.12 769 0.03 0.11
33 Indian Overseas Bank 329 0.35 0.34 218 0.54 0.00 923 0.15 0.42 8029 0.38 0.04 1312 0.00 0.04
34 Indusind Bank Ltd 110 0.25 0.13 757 0.01 1.46 4898 0.38 0.81 12928 0.06 1.61 6801 0.00 1.90
35 Jammu & Kashmir Bank Ltd 1 0.05 0.00
36 Jana Small Finance Bank Limited 18 0.03 0.00 1 0.37 0.00 211 0.04 0.01 17 0.00 0.00
37 JIO PAYMENTS BANK LIMITED 5 0.00 0.00 54 0.00 0.00
JPMORGAN CHASE BANK NATIONAL
38 ASSOCIATION 1 0.00 0.49 1 0.00 0.00
39 Karnataka Bank Ltd 155 0.11 0.22 24 0.00 0.00
40 Karur Vysya Bank Ltd 155 0.00 0.00 3704 0.00 0.04 492 0.00 0.00
41 Kotak Mahindra Bank Ltd. 46271 0.00 0.49 33723 0.00 0.03 18674 0.00 0.76 23645 0.01 0.04 4661 0.09 0.01
42 Lakshmi Vilas Bank Ltd 3 0.06 0.00
43 Nainital Bank Ltd 88 0.00 0.00 33 16.02 0.00
44 North East Small Finance Bank Limited 1 0.00 0.00 14 0.52 0.00 43 0.00 0.00
45 NSDL PAYMENTS BANK LIMITED 1 0.00 0.00
46 Paytm Payments Bank Limited 9 0.01 0.00 8 0.02 0.00 5 0.40 0.01 182 4.35 0.46 61 0.00 0.05
47 Punjab And Sind Bank 65 0.40 0.00 91 0.14 0.00 25 0.00 0.01 224 0.00 0.00 91 0.00 0.00
48 Punjab National Bank 474 1.56 0.10 199 2.20 0.20 26 0.13 0.15 323 6.39 1.66 129 0.01 0.01
49 RBL Bank Limited 268 0.65 0.00 283 6.00 0.08 12482 0.42 0.84 34135 0.13 7.59 8200 0.34 3.38
50 SBM BANK (INDIA) LTD. 99 0.00 0.07 284 0.00 0.00 109 0.00 0.00
51 Shinhan Bank 1 0.00 0.00 1 0.00 0.00 1 0.00 0.00
52 SHIVALIK SMALL FINANCE BANK LIMITED 1 0.00 0.00 16 0.00 0.00 3 0.00 0.00
53 South Indian Bank Ltd 456 0.06 0.10 381 0.17 0.02 377 0.04 0.02 635 0.80 0.60 219 0.51 0.6254 Standard Chartered Bank 407 4.05 0.01 2077 5.30 0.01 3000 6.55 0.00 3997 2.32 0.22 1736 1.54 0.59
55 State Bank of India 4863 24.24 0.11 2966 30.29 4.54 1351 30.77 1.05 13378 20.75 1.96 10815 8.08 0.08
56 Suryoday Small Finance Bank Limited 3 0.00 0.00 2 0.00 0.00 3 0.00 0.00
57 Tamilnad Mercantile Bank Ltd 16 0.20 0.00 11 0.00 0.00 6 0.01 0.00 654 0.00 0.00 388 0.00 0.00
58 The Dhanalakshmi Bank Ltd 16 0.05 0.00 4 0.01 0.00 44 0.01 0.00 415 0.00 0.00 122 0.00 0.00
59 UCO Bank 13 0.10 0.00 48 0.09 0.14 5 0.15 0.00
60 Ujjivan Small Finance Bank Limited 7 0.04 0.00 2 0.00 0.00 1 0.00 0.00 18 0.76 0.57 290 0.01 0.01
61 Union Bank of India 382 1.17 0.00 350 1.27 0.00 111 0.33 0.00 3067 4.07 71.90 83 0.48 0.01
62 Utkarsh Small Finance Bank Limited 33 0.00 0.00 223 0.00 0.00 45 0.00 0.00
63 Yes Bank Ltd. 282 0.00 0.00 213 0.04 0.00 1025 0.01 0.11 4831 0.06 0.00 2518 0.06 0.00
Grand Total 73988 87.17 13.51 65891 115.35 21.08 75820 85.28 14.06 293488 189.96 151.85 145738 101.82 48.37Annex-2
State wise data under the area of operations Digital Payments, Card/Internet and Advances-Digital Lending(app based) from FY 2020-21 to FY 2024-15 as reported by Banks to RBI based on date of reporting.
FY 2020-21 2021-22 2022-23 2023-24 2024-25
Extent Extent
of Total Extent Total of Total Extent Total Extent Total
Number Loss amount Number of Loss amount Number Loss amount Number of Loss amount Number of Loss amount
of (in recovered of (in recovered of (in recovered of (in recovered of (in recovered
Sl. No. State Frauds Crore) (in Crore) Frauds Crore) (in Crore) Frauds Crore) (in Crore) Frauds Crore) (in Crore) Frauds Crore) (in Crore)
1 Andaman & Nicobar Islands 3 0.00 0.00 1 0.00 0.00 4 0.00 0.00 35 0.00 0.00 6 0.00 0.00
2 Andhra Pradesh 733 0.72 0.02 521 0.29 0.03 489 3.30 0.21 3228 1.76 0.67 1861 3.19 0.69
3 Arunachal Pradesh 71 0.38 0.00 4 0.00 0.00 5 0.00 0.00 37 0.00 0.00 12 0.01 0.00
4 Assam 377 1.68 0.03 160 1.04 0.01 140 0.25 0.00 1140 0.74 0.19 488 0.06 0.05
5 Bihar 871 1.09 0.11 1015 2.08 0.29 668 1.20 0.01 3288 0.39 0.26 1724 0.52 0.06
6 Chandigarh 268 0.12 0.01 247 0.43 0.01 214 0.18 0.00 1133 0.05 0.02 299 0.21 0.00
7 Chhattisgarh 222 0.21 0.01 180 0.55 3.73 240 3.84 0.00 1397 1.50 0.21 442 0.02 0.02
8 DADRA AND NAGAR HAVELI AND DAMAN AND DIU 65 0.02 0.00 69 0.02 0.01 53 0.00 0.00 141 0.12 0.00 64 0.01 0.00
9 Goa 190 0.30 0.04 221 0.30 0.01 82 0.10 0.00 303 0.04 0.00 107 0.04 0.00
10 Gujarat 4746 1.27 0.15 3015 3.23 0.20 2627 3.32 0.36 9521 7.73 1.87 3875 1.49 0.69
11 Haryana 5991 16.24 0.89 5799 10.31 1.48 12051 13.01 0.72 53032 29.57 1.67 23861 10.26 0.64
12 Himachal Pradesh 256 0.78 0.01 174 0.34 0.01 93 0.14 0.02 593 0.07 0.00 230 1.65 0.02
13 Jammu & Kashmir 105 0.36 0.00 76 0.14 0.00 66 0.22 0.11 370 0.15 0.00 215 0.21 0.01
14 Jharkhand 261 0.25 0.05 263 0.19 0.01 230 0.08 0.02 1058 1.16 0.04 661 0.05 0.01
15 Karnataka 4371 6.57 0.58 3571 11.50 3.18 2593 3.51 1.44 11171 6.62 7.30 4205 7.38 3.97
16 Kerala 956 1.66 0.05 618 0.93 0.09 1479 2.62 0.13 14667 30.42 1.54 4502 1.48 1.00
17 LADAKH 13 0.06 0.00 4 0.01 0.00 2 0.00 0.00 15 0.00 0.00 8 0.00 0.00
18 Lakshadweep 1 0.00 0.00
19 Madhya Pradesh 979 2.21 0.09 824 1.72 0.10 1003 0.95 0.11 5564 2.57 0.51 1610 0.26 0.07
20 Maharashtra 27449 14.07 8.64 25979 25.08 8.74 24493 13.28 5.60 76136 42.54 89.29 31658 27.44 25.12
21 Manipur 25 0.07 0.00 5 0.00 0.00 7 0.01 0.01 62 0.01 0.00 41 0.00 0.0222 Meghalaya 23 0.09 0.00 12 0.02 0.00 7 0.02 0.00 76 0.97 0.00 33 0.14 0.00
23 Mizoram 2 0.00 0.00 1 0.01 0.00 14 0.00 0.00 7 0.00 0.00
24 Nagaland 21 0.08 0.00 5 0.00 0.00 8 0.00 0.00 29 0.00 0.00 15 0.00 0.00
25 NCT OF DELHI 8435 6.06 1.05 6715 13.93 1.19 16418 6.94 0.84 45104 5.96 8.07 11431 2.43 3.89
26 Odisha 300 0.46 0.08 337 4.96 0.01 241 0.61 0.12 1550 1.00 0.15 753 2.58 0.06
27 Overseas 6 0.04 0.00 19 0.01 0.05 5 0.00 0.02 14 2.28 0.00
28 Puducherry 26 0.01 0.00 14 0.01 0.00 30 0.00 0.00 168 0.01 0.00 71 0.14 0.00
29 Punjab 1226 1.96 0.15 1115 2.27 0.67 791 1.53 0.26 3116 1.33 0.61 1150 3.58 0.50
30 Rajasthan 1574 2.14 0.09 1020 3.07 0.36 1392 6.63 0.09 9153 6.32 2.38 5981 0.48 0.53
31 Sikkim 17 0.01 0.00 8 0.02 0.00 7 0.00 0.00 78 0.05 0.02 23 0.02 0.10
32 Tamil Nadu 5585 18.14 0.64 5953 16.27 0.32 3871 5.18 2.71 21995 10.26 33.11 37497 5.54 9.36
33 Telangana 2918 2.00 0.13 2129 7.41 0.07 1589 6.02 0.85 6779 4.73 0.35 2442 5.57 0.20
34 Tripura 53 0.10 0.00 9 0.01 0.00 16 0.00 0.00 173 1.23 0.26 71 3.25 0.00
35 Uttar Pradesh 4130 3.06 0.35 4223 6.91 0.36 3357 9.56 0.17 12566 29.23 0.82 4902 19.08 0.39
36 Uttarakhand 251 0.75 0.01 261 0.14 0.01 204 0.12 0.01 919 0.09 1.22 407 0.05 0.07
37 West Bengal 1471 4.23 0.33 1342 2.20 0.19 1330 2.63 0.22 8872 3.34 1.25 5071 2.42 0.87
Grand Total 73988 87.17 13.51 65891 115.35 21.08 75820 85.28 14.06 293488 189.96 151.85 145738 101.82 48.37