F-R-A-U-D-S!
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The worth of frauds continued to say no in FY23, with banks reporting an general defrauded determine of Rs 30,252 crore (Rs 302.52 billion) in FY23, in contrast with 59,819 crore (Rs 598.19 billion) in FY22.
Private sector banks reported the utmost variety of frauds in 2022-2023, whereas the share of public sector banks when it comes to the general quantity defrauded continued to prime the desk in 2022-2023.
Frauds by quantity have occurred predominantly within the digital funds area. However, in worth phrases, they’ve been reported primarily in mortgage portfolios (advances class).
The whole quantity scammed continued to dip throughout 2022-2023, down 49 per cent over 2021-2022.
While small-value card/web frauds accounted for a lot of the frauds reported by personal sector banks, these in public sector banks have been primarily in mortgage portfolios.
Feature Presentation: Ashish Narsale/Rediff.com
