Frauds: A sum of many parts

An analysis of fraud cases across different bank groups over the last 2fiscal years shows that private banks recorded the highest number of fraud incidents, whereas public sector banks accounted for the largest share of the total fraud amount.

Most frauds took place in digital payment channels such as cards and internet banking. While digital frauds made up the majority of cases reported by private sector banks, frauds in public sector banks were primarily linked to their
loan portfolios.