RBI report: Over Rs 36,000 crore lost in banking fraud in 2024-25; beware of sharing KYC docs on WhatsApp

The Reserve Bank of India's latest annual report reveals a stark reality of financial crime in the country. For the fiscal year 2024-25, a staggering 23,953 banking fraud cases were recorded, resulting in a total loss of Rs 36,014 crore.

This alarming figure highlights the pervasive threat of financial fraud and underscores the importance of safeguarding sensitive personal and financial information. In an era where digital communication is rampant, sharing Know Your Customer (KYC) documents via platforms like WhatsApp poses a considerable risk.

Documents such as PAN cards, Aadhaar details, and bank statements contain highly sensitive data that, if compromised, can lead to severe financial repercussions. The RBI's report serves as a critical warning to the public to think twice before transmitting such vital information over unsecured channels, urging greater vigilance and the use of more secure methods for document sharing.