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‘Fraud attempts against logistics cos up 224%’

The fraud level more than trebled — up 224 per cent — and has been a significant development during Covid-19 times, the credit information bureau said.

By: ENS Economic Bureau | Mumbai |
Updated: April 30, 2021 4:22:04 am
Police have booked the unidentified accused in this case under sections 420, 468, 469 and 470 of the Indian Penal Code.

There is a significant increase in attempted digital fraud originating from India against logistics companies, as per TransUnion Cibil. The fraud level more than trebled — up 224 per cent — and has been a significant development during Covid-19 times, the credit information bureau said.

“With more people shopping online during the pandemic, goods are having to be shipped and fraudsters know this so are targeting either redirecting genuine orders or alternatively placing fraudulent orders with compromised consumer accounts to genuine customer addresses, and then redirecting them once shipped,” it said.

Cibil said it found the percentage of suspected fraudulent digital transaction attempts against businesses originating from India increased 28.32 per cent when compared to the two periods — March 11, 2019 and March 10, 2020 and March 11, 2020 – when the WHO declared Covid a global pandemic – and March 10, 2021.

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