More urban Indians suffer payment app frauds, identify thefts


New Delhi, Apr 20 (IANS): More urban Indians are facing payment app frauds (24 percent), identity thefts (20 percent) and payment card frauds (18 percent) than ever before during the pandemic, a new report said on Tuesday.

Payment-related frauds are the most common forms of breaches suffered by people, according to the latest study by Internet-based market research and data analytics firm YouGov, revealing that more than half of urban Indians have suffered a data breach in some form in the past.

One in five have faced identity thefts (like social media accounts being hacked or email passwords being stolen) and an equal number suffered data "hacktivism" either for the company they work at or for the online service provider they used (like online apps used by them).

"Data breaches have shown a steady increase in the past few months, and some recent media reports suggest that the cyber-fraud incidents may go up in 2021. Interestingly, millennials are more likely than the rest to say that they have been victims of all forms of data breaches listed earlier," the report noted.

The findings showed that most respondents are concerned about their data privacy to some extent. Only one in ten (9 percent) are not concerned at all.

"Despite this, only 58 percent read the privacy terms and conditions before signing up for an app or a web service," the report noted.

When it comes to personally identifiable information, the study found that people consider some types of personal information more important than others.

Banking data such as ATM pins and passwords are considered the most important assets, followed by government-issued documents (76 percent and 63 percent, respectively find them extremely important).

More than half consider passwords (59 percent) and phone numbers (51 percent) extremely important.

"Only one out of seven respondents believes that personal data is secure with e-commerce sites and online businesses (14 percent). Social media platforms (7 percent) and hospitals or other healthcare units (6 percent) are the least trusted by people when it comes to their personal data," the report noted.

 

  

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Comment on this article

  • Dev, Mangalore

    Tue, Apr 20 2021

    In 21st century after failed Demonetization the next escape route was to usher in Digital Mode of Payments & Deposits so the govt. can spy on peoples way of payments & how to extract more taxes out of every transactions after letting in private players to provide apps. In the case of natural disasters, if spyware or trojans or hackers manage to break in all the data can be manipulated or lost brining people from palaces to beggars on street the next moment like many private bank & cooperative Society investors found out. People need to stop the govt. from imposing rules limiting their permission to keep money in cash or while doing transactions with flimsy excuse of curbing black money. If people pay taxes then why take away their freedom to keep their money in whichever form they want to. Someday banks will levy us a fee for keeping our money with them as economy flops & no new loan takers arrive to utilize the money the banks have, or the govt may one fine day say XX amount of money only is legal money with anybody, more than that belongs to the govt. etc. , anything is fiction now but will become reality as govt is getting more bankrupt each year & is selling all the assets created by previous govts. & using Reserve Fund with RBI too.

    DisAgree Agree [2] Reply Report Abuse

  • Narendra Kumar, Mangalore

    Tue, Apr 20 2021

    Well said.

    DisAgree Agree Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Apr 20 2021

    After 2014 only Frauds ...

    DisAgree Agree [7] Reply Report Abuse


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