Banks reported a 30% year-on-year increase in the amount involved in frauds during FY26 till September, Reserve Bank of India (RBI) data showed on Monday.
The fraud value, based on the date of reporting, stood at Rs 21,515 crore, compared to Rs 16,569 crore in the year-ago period. This was largely led by advance-related frauds, accounting for 80% of the total value.
However, the number of fraud cases sharply declined to 5,092 during the April-September period, from 18,386 a year ago.
Lower volume, higher amounts
During FY25, the total number of frauds decreased. However, the amount involved in frauds increased. This was mainly due to re-examination and reporting afresh of 122 fraud cases amounting to Rs 18,336 crore after ensuring compliance, the RBI said.
Card and internet frauds
The share of card and internet frauds in the total stood at 66.8% in terms of the number of cases. In terms of amount, the share of advances-related frauds was 33.1%, the report said.