Online finance fraud rising, but cons go scot-free as banks fail to respond on time

Online financial scams are rising at an alarming rate, but many banks are yet to understand the enormity of the problem.
  • Updated On Nov 23, 2022 at 01:36 PM IST
Jaipur: Online financial scams are rising at an alarming rate, but many banks are yet to understand the enormity of the problem.

Rajasthan police said many banks take a long time to respond to requests about blocking financial transactions despite complainants timely reporting the cyber fraud on the 1930 helpline.

The problem can be gauged by the data of a week between November 7 and November 13 in which 376 requests were pending with 24 banks.

Deputy IG (crime)Rahul Prakash said that the police regularly take up the matter with the banking officials to act swiftly on requests.

The special helpline 1930 began a few years ago to help fight cybercrime. Victims can call the helpline and give details of bank accounts to which they had sent money. These details become important as they are also sent to concerned banks to block the transactions.

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From April last year to November 9, a total of 48,381 calls were received at the helpline for cyber financial crimes.

Police so far have blocked over 6,000 SIM cards, and nearly 7,000 phones were also blocked. But the problem is far from showing any downward trend.

Police officials said that scammers have now begun to use more deceitful tactics to trick their victims. “Recently we found that scammers have begun sending text messages about electricity bills. They also send WhatsApp messages about lucrative discounts to bilk money from credit and debit cards,” said an official.

  • Published On Nov 23, 2022 at 01:34 PM IST
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