New Delhi: A total of 30,222 incidents of phishing/vishing, One Time Password (OTP) compromise, fraud by compromise of user credentials, compromise of mobile phone numbers of customers were reported in October-December 2017, Parliament was informed Friday.
"A total of 16,128 such incidents were reported in June 2017 quarter, while the number rose to 20,753 in the following quarter", Minister of State for Electronics and IT K J Alphons said in a written reply to Rajya Sabha.
Phishing is the attempt to obtain sensitive information such as usernames, passwords, and Credit Card details (and money), often for malicious reasons, by disguising as a trustworthy entity in an electronic communication.
On the other hand, "Vishing" is a combination of "Voice" and "Phishing". Voice phishing is the criminal practice of using social engineering over the telephone system to gain access to private personal and financial information from the public for the purpose of financial reward.
"In addition, RBI also received 2 complaints regarding ATM cloning and e-wallet scam involving bank accounts in branches of public and private sector banks," Alphons said.
In reply to another question, Alphons said, "Over 1,700 cases of fraud related to Credit/Debit Card and Internet banking with the extent of losses touching Rs 71.48 crore were reported in 2017."
A total of 1,785 cases related to Credit/Debit Card and Internet banking for amounts involving Rs 1 lakh and more were reported last year, he said, adding that the extent of losses in these cases totalled Rs 71.48 crore, according to PTI.
"In December 2017 alone, 187 cases with losses touching Rs 33.73 crore was reported", the minister said. "The extent of loss due to fraud in December 2017 appears to be high but as per the data available at RBI website, during the month, the value of card usage at ATMs and Point of Sale (POS) terminals was Rs 3,469.97 billion (Rs 3,46,997 crore)."
"Thus, the extent of losses due to fraud in December 2017 is only 0.009 per cent of the value of transactions", he said adding that RBI is taking adequate measures for risk mitigation in online payments, PTI reported.
"Moreover, banks and payment system operators have been advised to enhance the security and risk mitigation measures for card transactions (including card-based online transactions)", he added.
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