New data released by the State Bank of India has exposed a sharp rise in digital financial crimes, raising serious alarms about cybersecurity in India's banking sector. The figures, disclosed in response to a Right to Information (RTI) query, show a worrying trend as the country's largest lender rapidly adopts new technologies.
A 22-Month Snapshot of Digital Crime
Activist Abhay Kolarkar sought details on financial irregularities from SBI. The bank's reply painted a stark picture. Between January 1, 2024, and October 31, 2025, SBI branches across India recorded a total of 15,956 cases specifically related to cyber fraud.
During this same 22-month period, the bank also reported 5,105 cases of other, non-cyber financial frauds. This comparison highlights a significant shift in criminal activity, with cyber fraud occurring at a rate nearly three times higher than traditional methods. The surge is causing growing anxiety among millions of account holders who rely on digital platforms.
The Financial Toll of Digital Fraud
The monetary impact of these crimes has been substantial. Cumulatively, the 15,956 cyber fraud cases led to losses of ₹118.47 crore. In contrast, other types of fraud, though fewer in number, involved a larger sum of ₹477.64 crore, often due to higher-value individual scams.
A breakdown of the cyber fraud data reveals where customers are most vulnerable:
- Online Banking Fraud: This was the most prevalent type, with 6,630 cases resulting in losses of ₹62.37 crore.
- ATM-Related Fraud: There were 1,085 incidents reported, costing customers ₹7.6 crore.
- Mobile Banking Fraud: While fewer in number at 227 cases, these still led to losses of ₹3.23 crore.
Technology: A Double-Edged Sword for Banks
This increase in cybercrime coincides with a period of aggressive digital transformation for Indian banks. Institutions like SBI are deploying advanced technologies, including artificial intelligence, to streamline services and improve customer experience. However, cybersecurity experts consistently warn that this rapid digital expansion also opens up new and sophisticated avenues for financial criminals.
The data underscores a critical challenge: as banking becomes more convenient and tech-driven, the security infrastructure and customer awareness must evolve even faster to protect hard-earned money. The figures serve as a crucial reminder for both banks and customers to prioritize digital vigilance.
