Around 39 % of households in a survey claimed to have skilled monetary fraud within the final three years and solely 24 % of them bought their funds again, LocalCircles stated in a report on Tuesday.
The largest group of 23 % of respondents within the survey indicated to have skilled credit score or debit card fraud whereas 13 % indicated fraud by shopping for, promoting, and categorized web site customers.
As per the survey, 13 % had been defrauded by web sites taking cash for merchandise that weren’t delivered, 10 % indicated ATM card fraud, one other 10 % indicated checking account fraud and 16 % talked about different frauds.
“The data shows 30 percent of those surveyed had one member in the family who had been a victim of financial fraud while 9 percent indicated that multiple members in their family have been subject to financial fraud in the last three years. Of the remaining 57 percent were thankful they or their family members had escaped such an experience and 4 percent gave no clear response,” on-line survey agency LocalCircles stated within the report.
The agency stated that the survey obtained almost 32,000 responses from households situated in 331 districts of India comprising 66 % male respondents and 34 % ladies.
About 39 % of respondents had been from tier 1, 35 % from tier 2, and 26 % respondents had been from tier 3, 4, and rural districts.
When requested if the victims had been capable of get their funds, 24 % of the 11,305 responses obtained indicated that they had been capable of get again their funds whereas 70 % couldn’t get any decision to their criticism.
The information confirmed 18 % filed a criticism with the designated platform or entity and bought again the cash and 6 % filed a criticism with authorities and bought again the funds.
“However, 41 percent indicated that the ‘matter is still pending’, 17 percent feel helpless stating ‘there was nowhere to go’, 12 percent of those surveyed admitted that they decided to not even file a complaint and 6 percent gave no clear response,” the report stated.
A comparative research with the response obtained final 12 months reveals that whereas the proportion of households reporting monetary frauds has barely decreased in 2023 in comparison with 2022 (earlier 3 years), the proportion of these reporting credit score and debit card frauds has risen from 18 % final 12 months to 23 % now.
“What is promising is that the percentage of families who have reported financial frauds and were able to get back their funds has risen from 17 percent in 2022 to 24 percent in 2023 (previous 3 years), which shows that both the platforms or entities and the authorities are taking more timely and effective action than they did 12 months ago,” the report stated.Â
