A sharp rise in cybercrime has shaken India, where nearly 2.5 million people lost an estimated $25 billion to digital fraud in 2025, highlighting growing risks in the country’s fast-expanding online payment ecosystem.

One common tactic involves fraudsters posing as authorities and sending fake payment links. In one such case, a man in Pune was tricked into paying a small traffic fine, only to unknowingly authorise a much larger transaction after sharing a one-time password. Experts describe such scams as ‘‘social engineering,’‘ where urgency and fear are used to manipulate victims.

The surge in fraud coincides with the rapid adoption of digital payments across India, which has outpaced user awareness and security safeguards—especially among elderly and less tech-savvy populations.

In response, the Reserve Bank of India is considering new measures to curb cybercrime. Proposed steps include introducing a one-hour delay for certain bank transfers, adding extra verification for high-value transactions, and tightening checks on suspicious accounts often used to move illicit funds.

However, experts warn that these measures may have limited impact. Many scams have evolved beyond basic OTP fraud into more sophisticated schemes, and adding delays could undermine the real-time nature of digital payments without fully stopping criminals. 

There are also concerns about implementation challenges. Changes to payment infrastructure could be costly and complex, and added friction may inconvenience genuine users. Critics argue that fraudsters may quickly adapt to any new system restrictions.

Specialists say stronger enforcement, better coordination between agencies, and wider digital literacy campaigns are essential to tackling the issue. While the central bank has already launched awareness drives, including partnerships with major public figures and sporting events, analysts believe education remains the most effective long-term defence.

Source: Minute Mirror 
--Agencies