With growing digital transactions, financial frauds on the rise

Although Indians have embraced digital transactions, rampant social engineering and phishing email incidents have led to doubling of financial cybercrimes, reveals FIS PACE report

37% – of victims affected by financial fraud

27-37 years of age group impacted by fraud

96% – consumers who were victimized during last year had switched to mobile apps

Mobile payments rapidly gaining traction among 18-26 years age group

28% – youngsters not satisfied with their banks

35% – of older consumers are not satisfied with their banks