RBI Reports Nearly 24,000 Banking Fraud Cases Worth Rs 36,000 Crore in 2024-25

The Reserve Bank of India's Annual Report for 2024-25 has recorded 23,953 banking fraud cases amounting to Rs 36,014 crore. The surge in financial fraud highlights growing risks associated with sharing sensitive KYC documents such as PAN cards, Aadhaar, and bank statements digitally. Messaging platforms like WhatsApp are increasingly being exploited by fraudsters to obtain personal financial information from unsuspecting users. Experts caution that sharing such documents over unsecured channels can expose individuals to identity theft and financial fraud.
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