7 am-7 pm: The business hours of digital fraudsters, says HDFC Bank

65%-70% of cyber frauds happen during banks' business hours since fraudsters want to gain the trust of their victims and sound convincing, said an HDFC Bank executive

During the peak of the economic boom in late 2000, many banks offered 8 am to 8 pm banking services to their customers. As digital transactions gained traction in the following decade, so has online fraud. An analysis of such online frauds shows that the preferred time for the operation of fraudsters is also during the peak business hours – 7 am to 7 pm.

A fraud dispute time analysis for the first three months of the current financial year by HDFC Bank – the largest private sector lender of the country – shows 70% of the frauds happened during