Home / Industry / Banking /  Debit, credit card frauds on rise, ATM scams down: NCRB

NEW DELHI : Fraudulent credit and debit card transactions surged for the second straight year in 2021, while ATM-related fraud has declined, a report released by the National Crime Records Bureau (NCRB) showed.

According to the data, 3,432 cases of credit and debit card frauds were filed from across India in 2021, up nearly 20% from the year-earlier. In 2020, such frauds increased by over 70%. In just two years, credit and debit card-related frauds nearly doubled, it showed.

Meanwhile, the number of bank frauds (3,062 cases) and ATM frauds (2,914) fell 20.8% and 1.5%, respectively.

The three categories made up for one-third of the 174,013 economic offences reported in 2021, up 19.4% from 2020. The NCRB classifies such offences under three categories, such as criminal breach of trust, counterfeiting and FCF (forgery, cheating and fraud).

The NCRB also said that the number of cheating and forgery cases were up by nearly 16% over the last year.

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Telangana was the worst-hit with 1,092 cases of debit and credit card frauds in 2021, or twice that of cases reported by Bihar, which is at the second spot among states worst-affected by card-related frauds.

The report assumes significance as the Reserve Bank of India has been contemplating on setting up a fraud registry to check rising incidents of fraud in the banking sector. The registry will maintain a database of fraudsters‘ IP addresses and phone numbers. It will prompt agencies to identify fraudsters and eventually blacklist them.

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