The Reserve Bank of India (RBI) has reported a surprising trend in bank frauds for the financial year 2024–25. While the total number of fraud cases went down, the amount of money involved in these frauds rose sharply—almost three times higher than the previous year—reaching a staggering ₹36,014 crore.
Most of these fraud cases happened in the digital payments space, including internet banking and card transactions. RBI data shows that there were 13,516 frauds in digital payments alone, making it the most affected category in terms of number of cases.
Private-sector banks reported the highest number of fraud incidents, mostly in digital payments. On the other hand, public sector banks were hit harder in terms of money lost. Most of the fraud amount in these banks came from their loan portfolios, especially advances.
In simple terms, while there were fewer frauds overall, the few that did happen were much bigger in value. This shows a shift in fraud patterns—fewer but more damaging cases. It also highlights the growing vulnerability of digital platforms and the need for stronger checks in loan approvals, especially in government-run banks.
The RBI continues to monitor these trends closely and urges banks to improve their fraud detection systems and strengthen internal controls, particularly in digital operations and lending practices.
This data is part of the RBI’s annual report and serves as a reminder for both banks and customers to stay alert and cautious in the digital age.
