Cyber fraud victims face delays and little accountability from banks
A new report highlights that victims of digital financial fraud in India face significant delays and a lack of accountability from banks when seeking resolution. The study reveals that while many victims report incidents promptly, banking institutions often fail to provide adequate support.
Why it matters
This addresses the systemic failures in financial security and consumer protection in the face of rising cybercrime rates.
C ybercrimes have disrupted our conventional understanding of both how crimes take place and how the systems responding to them function. While there is much to be said about the non-financial cybercrimes that may be just as prevalent as financial cybercrimes, the latter have captured the public’s imagination and fears in unprecedented ways.
A recent study by Common Cause and Lokniti, CSDS, the Status of Policing in India Report (SPIR) 2026: Cybercrimes — Victim Perspectives and Systemic Responses, brings out the perspectives of the common public, victims, and domain experts on this issue, focusing on how victims navigate through the complex systems. The study is based on a survey of 8,306 respondents from across 16 States/U.T.s, along with in-depth interviews with 37 stakeholders, including victims, cybercrime experts, and others.
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