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About 57 per cent of all fraud incidents in India are now 'platform' fraud, a novel form of economic crime that involves fraudulent activities associated with social media, e-commerce, enterprise and fintech platforms, a report showed on ...
More than 26 per cent of Indian organisations lost over $1 million due to platform fraud, and 44 per cent of the perpetrators were found to commit fraud for financial gain, according to PwC's second edition of 'Global Economic Crime and Fraud Survey 2022: India Insights'.The
The surge in remote work, ecommerce, delivery applications and contactless payments has further contributed to the rise of this type of fraud, as per the report , , economic crime, fraud, indian companies, india, frauds, pwc india
Platform fraud, encompassing deceptive activities on social media, e-commerce, enterprise, and fintech platforms, accounted for 57% of all fraud incidents in India.
'99% of frauds in the past 24 months have been on platforms such as financial, social media, goods, enterprises, media sharing, knowledge sharing and services,' says PwC report