No More Scams – Measures to Prevent Financial Fraud

According to RBI, in FY22, banks reported 9,102 frauds amounting to Rs 60,389 crore, compared to 7,358 frauds worth Rs 1.37 lakh crore in FY21. In the pre-pandemic FY20, banks reported 8,702 frauds totaling Rs 1.85 lakh crore.