India remains vulnerable to credit and debit card frauds despite measures

Despite strong measures taken by the Reserve Bank of India to prevent credit and debit card fraud, the National Crime Records Bureau — in its 2017 report on crime in India — has captured credit card fraud in its statistics for the first time.

India was ranked among the top five countries globally that are vulnerable to credit card fraud, according to the 2016 Global Consumer Fraud Report published by payments technology company ACI Worldwide. The RBI has made chip-enabled credit and debit cards (which in some cases double as ATM cards) mandatory. Cards with magnetic strips, which store all