Value of bank frauds in India FY 2018-2024, by type of fraud

Published by Sandhya Keelery, Aug 30, 2024

In financial year 2024, banking frauds in India amounted for over 139 billion Indian rupees, a decrease compared to the previous year. By far, the most common frauds occurred in the advances category with 117 billion Indian rupees. In these frauds, the fraudster receives money with the help of stolen or faked banking and/or ID cards. 

Fraud cases may have occurred long before they were discovered and reported. The numbers above represented reported cases in the respective time period.

Value of bank frauds in India from financial year 2018 to 2024, by category of fraud (in billion Indian rupees)

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Release date

June 2024

Region

India

Survey time period

FY 2018 to FY 2024

Supplementary notes

India's financial year begins in April and ends in March. For example, FY 2023 started in April 2022 and ended in March 2023.

 One Indian rupee is equal to 0.011 U.S. dollars and 0.010 euros (as of July 2023).

Note: Frauds may have occurred long before reporting.

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