Credit card, cyber frauds led to Rs 60 cr loss: Govt

Over 9,300 cases involving credit and ATM cards and Internet banking frauds were reported in April-December 2014, resulting in losses of Rs 60 crore, Parliament was informed today.
"According to the data maintained by the Reserve Bank of India (RBI), a total number of 10,048, 8,765, 9,500 and 9,362 cases of credit cards, ATM/debit cards and Internet banking frauds were reported during 2011-12, 2012-13, 2013-14 and April-December 2014, respectively," Minister of Communications and IT Ravi Shankar Prasad said in a written reply to the Lok Sabha.
This resulted in losses of Rs 38 crore, Rs 68 crore, Rs 78 crore and Rs 60 crore in 2011-12, 2012-13, 2013-14 and April-December 2014, respectively, he added.

Also, 887, 955, 1,122 and 84 security incidents pertaining to phishing were handled during 2012, 2013, 2014 and 2015 (up to March), respectively, according to the information tracked by Indian Computer Emergency Response Team (CERT-In).
The minister said eight cases have been registered relating to frauds committed by e-mail and SMS in 2012, 2013, 2014 and 2015 (up to March 31, 2015).
"The losses incurred in these cases were to the tune of Rs 3.25 lakh and USD 337,962," he added.

Prasad said the government has taken various steps to prevent fraudulent activities and cyber crime.
"CERT-In is working in coordination with RBI and banks to track and disable phishing websites. Also, banks have implemented two-factor authentication to mitigate risks due to theft of online credentials," he said.

Besides, SMS alerts are sent to users intimating details of transactions involving amounts above a specified threshold.
"To create awareness about possible frauds using emails and SMS, advisories are being issued by banks, telecom service providers and police authorities to users," the minister said.