Friday, October 30, 2020
Home Lead Story 65% Indian Businesses Witness Rise in Online Fraud: Report

65% Indian Businesses Witness Rise in Online Fraud: Report

The study showed 65 per cent of the Indian consumers expect full transparency from businesses about use of their personal data

Over the past one year, 65 per cent of Indian businesses have experienced increase in online fraud-related losses, including account takeover attacks and fraudulent account openings, says a report.

In India, 87 per cent of businesses expressed heightened concern about the potentially damaging impact of fraud, said the study by data analytics comapny Experian.

With insights from almost 6,000 Asia Pacific consumers, including India, the report found that the majority (71 per cent) value security as the most important element of an online experience, followed by convenience (15 per cent) and personalisation (14 per cent).

custom writing
Most fraudulent companies do not offer revisions, and when they do, they try to rip you offer again by asking you to pay for further editing. Pixabay

“While companies continue to innovate on new solutions that enhance the customer experience, there needs to be a focus on reducing the customer’s risk exposure by securing the data and information they currently access,” said Sathya Kalyanasundaram, Country Managing Director, Experian India.

The study showed 65 per cent of the Indian consumers expect full transparency from businesses about use of their personal data.

The report titled “2019 Experian Identity and Fraud Report: Asia-Pacific Edition” highlighted that trusted online relationships are based on businesses providing both a secure environment and seamless consumer experiences. (IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,779FollowersFollow

Most Popular

New Trends of Hiring for Work in IT Industry

Each change is a step towards transformation. Ever since the pandemic interrupted our lives, the shift to remote working has not just altered the...

Making Orphaned and Abandoned Children Self-reliant

There are millions of orphan children across India, who lack the basic facilities required for survival. Having lost their parents at a very young...

Some Recovered COVID Patients Could Still Carry Virus

Researchers have reported that some patients recovered from COVID-19 could still carry the virus, suggesting that recovered patients should be more cautious and avoid...

Delayed Treatment of Brain Stroke Leads to Disabilities

Time is brain when it comes to the treatment of acute ischemic stroke. For every minute of delay in seeking treatment for a stroke,...

Foods that Reduce the Risks of Breast Cancer

A healthy lifestyle which includes exercise and a nutrient-dense diet may help reduce the risk of cancer. Foods that are rich in antioxidants and...

Delightful Golden Hues of Autumn in Switzerland

As beautiful as Switzerland is in summer, the changing colors of autumn paint the vistas of the country in delightful golden hues. Witnessing the...

Here’s How to Have a Better Digestive Health for Children

Has your toddler been refusing to poop in the toilet? Does he/she cry or make faces while passing stool or has the frequency of...

COVID Antibodies Respond at least for 5 Months, says Study

While some reports have come out saying antibodies to coronavirus go away quickly, a new study has revealed that the vast majority of individuals...

Recent Comments