Experian India reported that nearly one in four Indians have directly experienced fraud while transacting online, a new report from global information services company.

As brands and consumers are looking for easier ways to buy and sell products online via mobile devices, the opportunity for online fraud is escalating simultaneously, suggests the report titled “Digital Consumer Insights 2018”.

“Through the study we observed that consumers from India, are driven by convenience and are less aware about online frauds when compared to other APAC (Asia Pacific) countries like Singapore and Hong Kong,” Experian India Country Head Vaishali Kasture said in a statement. “Prevalent customer practice to bear the cost of the fraud is not a solution to mitigating digital frauds. More needs to be done to build awareness and collectively fight fraud,” Kasture added.

The report, prepared in collaboration with market research firm IDC, is based on responses from a consumer survey involving 3,200 respondents across 10 APAC markets namely Australia, China, Hong Kong, India, Indonesia, Japan, New Zealand, Singapore, Thailand and Vietnam.

Source: Business Standard