Financial frauds keep pace with rise in digital transactions: report
- Consumers have become more vulnerable to cyber fraudsters, with 34% of participants reporting financial fraud over the past 12 months.
- The financial frauds were mostly through phishing, followed by QR code/UPI scams.
There has been a significant surge in financial frauds during the pandemic, with consumers increasingly using online options when making transactions, according to a report by fintech company FIS.
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