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Poosarla Sai Karthik

Tech guy with a busi... • 23d

In recent years, frauds between Indian startups and investors have led to losses of about ₹4,000 crore. These incidents often involve startups misrepresenting financials, hiding liabilities, or exaggerating growth to secure funding. As more startups rush to raise capital, the lack of transparency has led to increased disputes and legal issues with investors. On a broader scale, financial frauds affecting consumers also continue to rise. In 2023, over 1.13 million cases were reported, with losses amounting to ₹7,488 crore. These usually involve fraud on digital platforms. To tackle this, the Indian government and the Reserve Bank of India (RBI) have introduced systems like the Central Payments Fraud Information Registry and the Citizen Financial Cyberfraud Reporting and Management System to improve transparency and protect the ecosystem.

0 replies5 likes

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Anonymous

Hey I am on Medial • 11m

Is there any requirement of the system that nearly stops the revenue lossess, which happens through various frauds and scams!

yes

may be

Votes: 9

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I have an idea to stop the online transaction fraud

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