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India may see 65% rise in mobile frauds by next year, says study

 Agencies |  2016-12-13 00:51:02.0  |  Mangaluru

Rapid increase in use of computers and the emergence of the Internet has led to increase in cyber crimes, about 40-45% of financial transactions are done via mobile devices and this menace is expected grow to 60-65% by 2017, noted a recent ASSOCHAM-EY joint study. 

The study had further noted that mobile frauds are areas of great concern for companies as 40-45% of financial transactions are done via mobile devices and this threat is expected grow to 60-65% by 2017, noted the study titled ‘Strategic national measures to combat cybercrime,’ jointly conducted by ASSOCHAM and research firm EY. 

According to joint study, credit and debit card fraud cases top the chart of cybercrimes. There has been a six-fold increase in such cases over the past three years. According to the data, about 46% complaints of online banking related to/credit/debit card fraud followed by Facebook (39%)- related complaints (morphed pictures/cyber stalking/cyber bullying). Other major cyber complaints were cheating through mobile (21%), hacking of e-mail ID (18%), abusive/offensive/obscene calls and SMS (12%), and others. 

Enforcing data security measures and creating proactive security monitoring capability are vital for an organisation to maintain a lead over emerging threats and protect their financial, intellectual and customer-related information, adds the study. A secure cyberspace and government’s influence in keeping tabs on cybercrime have become important criteria for businesses to establish, operate and flourish in any region.  

Agencies

Agencies

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