Gujarat has recorded bank frauds worth ₹3,707.7 crore over the last three financial years, making it the sixth-highest state/Union Territory in India in terms of the total value of reported banking frauds. The figures are based on data released by the Reserve Bank of India (RBI).
The data shows that while the value of reported frauds has increased steadily each year, experts believe this is partly due to better reporting systems and greater public awareness. However, officials continue to warn that thousands of people, especially senior citizens, are still falling victim to online banking scams.
Fraud Amounts Have Increased Every Year
According to the RBI data, the value of reported bank frauds in Gujarat has risen consistently over the past three financial years.
2023–24: ₹986.2 crore
2024–25: ₹1,285.9 crore
2025–26: ₹1,435.6 crore
The amount increased by 30.4% between 2023–24 and 2024–25. It then rose by another 11.6% in 2025–26. Overall, the value of reported bank frauds in Gujarat during this period was 45.6% higher than it was three years earlier.
Gujarat Ranks Sixth in the Country
Despite the sharp rise, Gujarat was not the state with the highest banking fraud losses. Only Maharashtra, Delhi, West Bengal, Telangana and Tamil Nadu reported higher cumulative fraud amounts during the three-year period. The top five were:
Maharashtra: ₹32,297.9 crore
Delhi: ₹16,396.6 crore
West Bengal: ₹10,309.6 crore
Telangana
Tamil Nadu
With ₹3,707.7 crore, Gujarat ranked sixth nationally.
The data also shows that the six leading states together accounted for more than ₹72,000 crore in reported banking frauds over the three-year period, highlighting that frauds remain concentrated in India’s largest commercial and financial centres.
Why Are Fraud Figures Rising?
Banking sector sources say the increase in reported fraud amounts does not necessarily mean fraud has suddenly become more common. According to officials, the rise is linked to:
Better fraud reporting systems.
Improved awareness among customers.
Stronger internal monitoring by banks.
Increased efforts by banks to encourage customers to report suspicious transactions.
However, authorities also point out that cybercriminals continue to use similar methods that have been targeting people for several years.
Common Banking Scams Continue
Investigators say there has been no major change in banking fraud trends over the past four to five years. Fraudsters continue to trick customers through methods such as:
Malicious APK download links.
Fake KYC update messages.
Calls or messages from people pretending to be bank officials.
Fake credit card offers.
Fraudulent bill payment requests.
Phishing scams that convince people to share banking details, passwords or OTPs.
Officials say many victims unknowingly hand over sensitive information, allowing fraudsters to access their bank accounts.
Elderly Citizens Most at Risk
Cybercrime investigators say elderly people who are not comfortable with technology form a large share of the victims.
Senior citizens are often targeted because they may trust callers claiming to represent banks or government agencies and may not recognise fake messages or fraudulent links.
Officials have urged families to educate elderly relatives about common online scams and never share banking credentials over phone calls or messages.
Quick Reporting Can Improve Recovery Chances
Authorities say victims have a better chance of recovering their money if they report the fraud immediately, preferably within the first hour after discovering the transaction.
Prompt reporting allows banks, cybercrime officials and law enforcement agencies to freeze suspicious transactions before the money is moved through multiple accounts.
However, investigators noted that many victims delay filing complaints with the police or cybercrime helpline, significantly reducing the chances of recovering the lost money.
Recovery Rate Remains Low
Despite improvements in reporting and recovery efforts, only a small portion of the money involved in reported frauds has been recovered. In Gujarat:
Total reported fraud amount: ₹3,707.67 crore
Recovered by banks: ₹96.58 crore
Recovery rate: 2.6%
The figures show that once fraudsters successfully transfer money through multiple accounts, recovering it becomes extremely difficult.
Comparison With Other States
The low recovery rate is not unique to Gujarat. Among major states:
Maharashtra recovered about 3% of the ₹32,297.9 crore involved in reported frauds.
Karnataka recorded a recovery rate of 2.3%.
West Bengal stood out with a much better recovery rate of 16.1% of the ₹10,309.6 crore involved during the period.
Gujarat Ahead of Several Large States
Although Gujarat ranked sixth nationally, it still reported a higher fraud value than several major industrial states. Over the three-year period, Gujarat’s reported fraud amount exceeded:
Karnataka: ₹2,916 crore
Uttar Pradesh: ₹2,699.7 crore
Punjab: ₹2,253.9 crore
Authorities Urge Public to Stay Alert
Officials say banking fraud continues to be a major challenge despite stronger security measures adopted by banks.
They advise customers to avoid clicking unknown links, never install APK files received through messages, ignore fake KYC requests, verify calls claiming to be from banks, and never share OTPs, passwords or PINs with anyone.
Authorities also stress that reporting suspicious transactions immediately to the bank and the cybercrime helpline offers the best chance of preventing financial losses.
As digital banking continues to grow, experts believe public awareness, quick reporting and cautious online behaviour remain the strongest defence against banking fraud.
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