‘39 per cent families claim to be victim of online financial fraud’

About 10 per cent indicated ATM card fraud. Representation pic

Around 39 per cent of families in a survey claimed to have experienced financial fraud in the past three years and only 24 per cent of them got their funds back, online survey firm LocalCircles said in a report on Tuesday.

As per the survey, 13 per cent were defrauded by websites taking money for products that were not delivered, 10 per cent indicated ATM card fraud and another 10 per cent indicated bank account fraud and 16 per cent mentioned other frauds.

The firm said that the survey received nearly 32,000 responses from families located in 331 districts of India comprising 66 per cent male respondents and 34 per cent women.

About 39 per cent respondents were from tier 1, 35 per cent from tier 2 and 26 per cent respondents were from tier 3, 4 and rural districts.

A comparative study with the response received last year shows that while the percentage of families reporting financial frauds has slightly reduced in 2023 compared to 2022 (previous 3 years), the percentage of those reporting credit and debit card frauds has risen from 18 per cent last year to 23 per cent now.

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