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Financial services sector is more prone to cyber frauds. A report released by IIT Kanpur titled, ‘A Deep Dive into Cybercrime Trends Impacting India’ reveals that majority of cybercrimes or 8 out of 10 cybercrimes happen in financial services industry.
The research was carried out on cybercrimes reported between Jan 2020 and June 2023.
Let us look at the key findings of the report:
- Over 77% of the total cyber frauds are related to debit/credit card, internet banking and UPI
- Over 12% of cybercrimes are done through social media
- Handful of cybercrimes are related to hacking and damaging systems
- Close to 9% of crimes are related to gambling, trading of cryptos and so on
The report also issued caution against 10 districts which are responsible for 80% of cybercrimes. These cities are Bharatpur (Rajasthan), Mathura (UP), Nuh (Haryana), Deoghar (Jharkhand), Jamtara(Jharkhand), Gurgaon(Haryana), Alwar(Rajasthan), Bokaro(Jharkhand), Karma Tand(Jharkhand) and Giridih (Jharkhand).
You can ask your clients to exercise precaution if they receive calls from these 10 locations.
