Overview

• The Congress party alleged on June 1 that 1,25,828 digital fraud cases since 2014 had cost Rs 6.36 lakh crore.
• In its June 2 response to a Lok Sabha question, the government said digital payment frauds totaled 63,315 cases with losses of Rs 733.26 crore between FY2014-15 and December 2024.
• Officials accused Congress of conflating broad banking fraud figures with digital payment data to inflate losses and undermine trust in financial systems.
• Reported digital payment fraud cases declined from 29,082 in 2023–24 to 13,384 in 2024–25 and associated losses fell from Rs 177 crore to Rs 107 crore, according to parliamentary records.
• The RBI and NPCI have implemented measures like device binding, two-factor authentication, a central fraud registry and the AI-based ‘MuleHunter’ tool, and plan dedicated ‘bank.in’ and ‘fin.in’ domains by FY26.