ISSN 2581-5369
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Cyber Frauds in Digital Banking: Legal Challenges and Preventive Framework in India
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Dr. Pravin Rathod
Pursued PhD from Department of Business Management, Rashtra Santh Tukdoji Maharaj Nagpur University, Nagpur, Maharashtra, India
Abstract
Digital banking has brought a significant transformation in the Indian banking system by providing fast, convenient, and accessible financial services. The introduction of internet banking, mobile banking, and digital payment systems such as UPI has reduced dependency on physical banking. However, this rapid digitalization has also led to a sharp increase in cyber frauds. Fraudsters exploit both technological systems and human behaviour to carry out unauthorized transactions. This paper examines various types of cyber frauds in digital banking, analyses the legal framework governing such crimes in India, and identifies major challenges in prevention and enforcement. It further suggests practical measures for strengthening fraud prevention mechanisms in the banking sector. The study highlights that along with strong legal provisions, awareness and technological safeguards are essential to ensure safe digital banking.
Keywords
- Digital Banking
- Cyber Fraud
- UPI Fraud
- Phishing
- Cyber Law
- Banking Security
Type
Research Paper
Information
International Journal of Law Management and Humanities, Volume 9, Issue 2, Page 2139 - 2158
DOI: https://doij.org/10.10000/IJLMH.1111735Creative Commons
This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.
Copyright
Copyright © IJLMH 2021