Minister of State for Home Affairs, Bandi Sanjay Kumar, revealed in the Rajya Sabha that around 29,000 incidents of Aadhaar Enabled Payment System (AePS) fraud have been reported on the National Cyber Crime Reporting Portal (NCRP). The NCRP, part of the Indian Cyber Crime Coordination Centre (I4C), was launched in 2020 to allow public reporting of cyber crimes, focusing particularly on crimes against women and children.
Experts suggest that the rise in AePS fraud started post-demonetization when banks began outsourcing various functions, including personnel. Contract employees with access to banking systems have reportedly exploited their positions, leading to increased cyber fraud cases. Investigations by Mumbai Police have also uncovered cases where bank employees facilitated fraudulent activities.
Shankar, General Secretary of the All India Union Bank Employees Association, emphasized the need for strict audits of outsourced services to prevent fraud. Meanwhile, Mumbai Police officials advocate for enhanced scrutiny and regulations in the banking sector to combat cyber fraud more effectively.
The government has taken steps to address the issue through the ‘Citizen Financial Cyber Fraud Reporting and Management System’ (I4C), saving over ₹2,400 crores from fraud attempts and blocking more than 5.8 lakh SIM cards and 1,08,000 IMEIs. A toll-free helpline, 1930, is available for reporting cyber complaints.
