As the Indian economy is progressing towards increased digitization, the number of frauds in the financial services sector, predominantly within the credit system, is also rising. According to a recent report titled Experian India Fraud Report 2018-19 by Experian Services India Pvt. Ltd, a credit information services company, identity frauds and market alert frauds (MAF) were the leading contributors in the overall fraud distribution in the credit system in the past year. The report said that more than 50% businesses in the Asia-Pacific region are now implementing active authentication to curb the number of frauds. Credit card frauds

Source: Mint April 30, 2019 17:15 UTC