August 6,2018:
With Modi Government pushing towards Digital Transaction ever since Demonetisation happened, it would be sobering to note that case count of E-Transaction frauds involving more than Rs 1 lakh jumped by over 100 per cent and value of the loss by over 350 per cent in just 2 years.
According to latest RBI data, while the total number of such frauds was 1,191 in 2015-16, it rose to 1,372 the next year and leapt to 2,488 in 2017-18.
Money involved in such frauds was about Rs 40.20 crore in 2015-16, Rs 43.18 crore the next fiscal and more than tripled to Rs 149.62 crore in 2017-18.
Most of the cases were registered in a few states like Maharashtra, Haryana, Delhi, Tamil Nadu and Karnataka.
In the first three months of this financial year (April-June 2018-19) alone, 661 cases of frauds involving Rs 34.36 crore have been registered.
Government has been incentivising the use of its digital platform, BHIM.
On last Saturday , Goods and Services Tax Council cleared a pilot project to offer 20% cashback of the GST paid on business-to-consumer transactions using RuPay and BHIM platforms, with to a cap of Rs 100 per transaction.
States Having Maximum cases
States No. of frauds Maharashtra 784 Haryana 419 Delhi 257 Tamil Nadu 222 Karnataka 160
Source TheNewIndianExpress
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