wordpress blog stats
Connect with us

Hi, what are you looking for?

8,322 Cyber Frauds Cases Registered In Banks In 2012; ICICI Bank Highest

The Reserve Bank of India has registered 8,322 cases of cyber frauds in 2012, a decline from 9,588 cases and 15,018 cases registered in 2011 and 2010 respectively. This announcement was made by Namo Narian Meena, the Minister of State for Finance, in a written reply to the Lok Sabha.

RBI informed that these cyber frauds includes frauds recorded in ATMs, Debit Cards, Internet Banking and Credit Cards. It also mentioned that this includes data for 48 banks and the organization has not included data for banks that have turned into non-performing assets.

Amount Involved: The minister stated that around Rs 52.66 crore were involved in these cyber fraud cases in 2012, a significant increase from Rs 36.72 crore in 2011 and Rs 40.48 crore in 2010.

RBI cyber fraud data.xlsx comparison

Cyber Frauds – High in Private Banks

Among private banks, ICICI Bank has recorded the maximum number of cyber frauds in 2012, with 3,428 cases worth Rs 6.76 crore. This is a decline from 6013 cases worth Rs 10.96 crore in 2011 and 9811 cases worth Rs. 19.2 crore in 2010.

Advertisement. Scroll to continue reading.

Other private banks with a significant number of cyber frauds include Hongkong & Shanghai Banking Corporation Ltd, American Express Banking Corp. and Citibank. We noticed that the number of cyber frauds in Citibank has increased to 1,504 cases worth Rs 6.9 crore in 2012, a significant increase from 774 cases worth Rs 4.2 crore in 2011 and 925 cases worth Rs. 5.21 crore in 2010.

We also noticed that although private banks account for majority of the cyber frauds cases in India, the number has been declining among these banks with a few exceptions.

Cyber Frauds in Public Sector and Nationalised Banks

Among public sector banks, State Bank of Hyderabad has registered the maximum number of cases in 2012, with 6 cyber fraud cases worth Rs. 0.50 crore, while State Bank of India and State Bank of Mysore haven’t recorded any cyber frauds in 2012.

Among nationalised banks, IDBI Bank has registered the maximum number of cyber frauds in 2012, with 87 cases worth Rs. 2.03 crore. This is a significant increase from 13 cases worth Rs 0.15 crore in 2010. IDBI Bank is followed by Corporation Bank which registered 47 cyber fraud cases worth Rs. 0.21 crore in 2012. Overall, we noticed that public sector banks and nationalised banks have registered a relatively lower number of cyber frauds for the past three year, but the number has been increasing among nationalised banks with a few exceptions.

Advertisement. Scroll to continue reading.

You May Also Like


Banks issued 4.4 million new credit card and 71 million debit cards between March 2020 and February 2021, according to data from the Reserve...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ