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An Analytical Study of UPI Fraud Detection in Online Transactions in India (Iconic Research and Engineering Journals)

Research paperIconic Research and Engineering JournalsNovember 20264 pages6 min readH R MeghaOriginal source
Largest segment
98–99%
UPI share of digital transaction volume in India p.3

Summary

  • The CBI identified more than 8.5 lakh mule accounts used in cyber fraud.p.2
  • UPI accounts for 98–99% of digital transaction volume in India, with nearly 81–85% of the population using UPI accounts.p.3

Key insights

  1. OTP and UPI PIN theft is identified as the most widespread online transaction fraud mechanism in India.p.2
  2. The CBI identified over 8.5 lakh mule accounts utilized to transfer stolen money in cyber fraud schemes.p.2
  3. UPI dominates Indian digital payment infrastructure, accounting for 98–99% of total digital transaction volume.p.3
  4. Between 81% and 85% of people in India use UPI accounts for digital payments.p.3
  5. AI and machine learning systems detect fraud by immediately flagging large transactions and issuing alerts after multiple failed login attempts.p.2

Topics and entities

AI in financeBankingCybersecurityInstant paymentsPaymentsCBIIMPSMinistry of FinanceNEFTRBIRTGSUPI

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