SBI Customers Lost ₹6,313 Crore in 30,700 Fraud Cases as UPI Led 12,868 Incidents
Updated
Updated · Business Today · Jun 13
SBI Customers Lost ₹6,313 Crore in 30,700 Fraud Cases as UPI Led 12,868 Incidents
1 articles · Updated · Business Today · Jun 13
Summary
RTI data showed SBI customers lost more than ₹6,313.4 crore in over 30,700 fraud cases between April 2023 and March 2026, exposing the scale of risks across the bank’s digital ecosystem.
UPI accounted for 12,868 cases and internet banking 8,657, making them the most exploited channels as fraud tactics shifted from phishing links and fake calls to fake investment apps, screen-sharing and cloned trading platforms.
14,717 cases were recorded in 2023-24, falling to 2,247 in 2025-26, but the amount involved last year still reached ₹1,745.23 crore, indicating fewer yet higher-value frauds.
West Bengal logged the most cases at 3,426 involving ₹143.67 crore, while SBI separately recorded 23,580 cyber fraud cases with losses of ₹166.73 crore and 303 employee-linked frauds costing ₹311.08 crore.
SBI said it does not keep separate data on 'digital arrest' scams, underscoring a monitoring gap as experts say fraudsters increasingly exploit fear, greed and urgency rather than technical weaknesses.
As global crime rings weaponize AI for scams, are Indian banks prepared for the next wave of undetectable digital fraud?
With employees stealing over ₹300 crore, is the biggest threat to your savings not a hacker, but a bank insider?
Digital Fraud at SBI (2023-2026): ₹6,313 Crore in Losses, Evolving Threats, and the Push for Enhanced Security
Overview
Between April 2023 and March 2026, the State Bank of India (SBI) faced a significant wave of digital fraud, with 303 cases linked to employees causing losses of over ₹311 crore. While the number of these cases dropped from 114 to 89 over the years, the financial damage per case grew, reaching more than ₹103 crore in 2025-26. This shows a shift toward fewer but higher-value frauds. The report highlights how cybercriminals are using more advanced tactics, making it crucial for SBI and its customers to stay vigilant and adopt stronger security measures.