A Critical Study On E-Banking Frauds In India

Srishti Jain, SRM University, Sonipat

ABSTRACT

In the realm of e-banking, the trap between convenience and vulnerability, the menace of fraud appears large. Social engineering, the art of cunning manipulation of human psychology, is the main cause of the security of e- banking transactions being threatened. This abstract deals with the link between social engineering methods and user awareness in preventing e- banking fraud, putting forward collaboration, education, and vigilance as the main defenses. By the means of user education programs and the strategic cooperation among the players of the field, in particular, the financial institutions, the government, and the cybersecurity experts, a resilient e- banking system is created, which is resistant to the changing environment of the fraud.

Keywords: e-banking fraud, social engineering, user awareness, collaboration, and resilience,