There has been a sizable surge in usage of digital modes of payment during
the recent years. This has not only led to improved customer convenience,
but also contributed to achievement of national objective of financial
inclusion to a great extent. As the ease of doing financial transactions
improved, the number of frauds in retail financial transactions have gone
up. Fraudsters have been using innovative methods to defraud the hard-earned
money of common and gullible people, especially new entrants who are not
entirely familiar with the techno-financial eco-system.
Here we are trying at creating awareness about the modus operandi of the fraudsters, while also providing some inputs about precautions to adopt while carrying out financial transactions. Kindly refer to the PDFs.