SBI Customers Lose Over ₹6,313 Crore in Digital Frauds as UPI and Internet Banking Scams Surge
State Bank of India (SBI) customers lost more than ₹6,313 crore in over 30,700 fraud cases between April 2023 and March 2026, according to data obtained through an RTI application. The figures reveal that UPI and internet banking were the most targeted channels, accounting for more than 21,500 fraud incidents, highlighting growing risks in India’s rapidly expanding digital banking ecosystem.
While the total number of fraud cases declined during the three-year period, the value involved in each case increased significantly. SBI reported 14,717 fraud cases in 2023-24, which fell to 2,247 in 2025-26. However, losses in the latest financial year alone reached ₹1,745.23 crore, indicating a rise in high-value scams. West Bengal recorded the highest number of fraud cases among states, with 3,426 incidents involving losses of ₹143.67 crore.
The report also noted evolving fraud techniques, with cybercriminals increasingly using fake investment apps, screen-sharing tools, remote access software, and cloned trading platforms instead of traditional phishing methods. Additionally, 303 employee-linked fraud cases caused losses of ₹311.08 crore over the period. Cybersecurity experts warn that fraudsters are increasingly exploiting human psychology through fear, urgency, and deception, making customer awareness as important as technological security measures.
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