State Bank of India (SBI) has reported a sharp rise in cyber fraud cases across its branches nationwide, raising serious concerns over digital security in the banking sector. Over a 22-month period, the bank recorded nearly 16,000 cyber fraud cases, highlighting the growing risks associated with increased reliance on digital banking platforms.
In a reply to an RTI query filed by activist Abhay Kolarkar, SBI disclosed that between January 1, 2024, and October 31, 2025, it registered 15,956 cyber-related financial frauds across its branches. Kolarkar had sought detailed information on financial irregularities reported by the bank. During the same period, SBI also recorded 5,105 cases of other types of fraud, according to the RTI response.
The surge in cyber fraud comes at a time when banks are rapidly adopting advanced technologies, including artificial intelligence, to enhance customer services. However, experts warn that this rapid digital expansion has simultaneously created new avenues for financial crime. Compared to traditional frauds, cyber fraud cases have risen nearly threefold, triggering concern among account holders.
The financial impact of these frauds has been substantial. SBI reported losses of ₹118.47 crore due to cyber fraud, while other frauds resulted in losses amounting to ₹477.64 crore. Online banking frauds accounted for a significant share, with 6,630 cases involving ₹62.37 crore. Additionally, 227 mobile banking fraud cases led to losses of ₹3.23 crore, while 1,085 ATM-related frauds caused losses of ₹7.6 crore.
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