With the surge in digital transactions via e-wallets and other online payment gateways, mobile frauds are expected to grow to 60-65 percent in the country by 2017, a leading industry body said on Monday. The joint study by Assocham and research firm EY, titled “Strategic National Measures to Combat Cybercrime”, said a secure cyberspace and the government’s initiatives in keeping tabs on cybercrime have become important criteria for businesses to establish, operate and flourish in any region. Also Read - Internet down: Zomato, Paytm, Disney+ Hotstar, Amazon, Myntra, many other global services suffered massive outageAlso Read - Safer Internet Day 2021: Here's how you can ensure your online security
“Mobile frauds are areas of great concern for companies as 40-45 percent of financial transactions are done via mobile devices and this threat is expected grow to 60-65 percent,” the study noted. Credit and debit card fraud cases top the chart of cybercrimes and there has been a six-fold increase in such cases over the past three years. “According to the data, about 46 percent complaints of online banking related to/credit/debit card fraud followed by Facebook-related complaints (39 percent — mostly morphed pictures/cyber stalking/cyber bullying),” the study said.
Other major cyber complaints were cheating through mobile (21 percent), hacking of e-mail ID (18 percent), abusive/offensive/obscene calls and SMS (12 percent) and others. Enforcing data security measures and creating proactive security monitoring capabilities are vital for an organization to maintain a lead over emerging threats and protect their financial, intellectual and customer-related information, the study said. ALSO READ: Digital payment providers at great hacking risk, need upgraded security: Experts