The Union Finance Ministry has informed the Parliament that in the financial year 2022-23, more than 95,000 fraud cases of Unified Payments Interface (UPI) transactions were registered in the country. In the financial year 2020-21, 77,000 cases were seen. In the financial year 2021-22, this case increased to 84,0000.
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The Union Finance Ministry has informed the Parliament that in the financial year 2022-23, more than 95,000 fraud cases of Unified Payments Interface (UPI) transactions were registered in the country. In the financial year 2020-21, 77,000 cases were seen. In the financial year 2021-22, this case increased to 84,0000.
Where on one hand UPI transaction is continuously making records. Its payment system is being praised all over the world, but you are aware that in the current financial year, 95 thousand people have become victims of fraud in this payment system. The Finance Ministry of the country itself has given this information in the Parliament. Let us also tell you what the ministry has said about this in the Parliament?
95 thousand were cheated
The Union Finance Ministry has informed the Parliament that in the financial year 2022-23, more than 95,000 fraud cases of Unified Payments Interface (UPI) transactions were registered in the country. There is a continuous increase in the cases of fraud in the last three financial years. In the financial year 2020-21, 77,000 cases were seen. In the financial year 2021-22, this case increased to 84,0000.
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UPI transaction of Rs 125 crore last year
Data from the National Payments Corporation of India (NPCI) revealed that last year alone, UPI transactions worth over Rs 125 crore were completed, which is more than the previous three years. The ministry said that the Indian digital payment system has also received global acceptance, with Singapore, UAE, Mauritius, Nepal and Bhutan being among the countries that have adopted UPI.
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Minister of State for Finance replied in Parliament
The data was revealed in response to a question raised by Rajya Sabha MP Kartikeya Sharma on the increasing cases of digital payment fraud in India. Minister of State for Finance Dr. Bhagwat Karad told Parliament that UPI applications provide in-app information of the user initiating the payment to an unknown beneficiary, a device-binding concept, wherein the user’s mobile number is linked to his mobile device, thereby It becomes almost impossible for anyone to intervene. Karad said that the government has also come up with the National Cyber Crime Reporting Portal to register complaints.
