As the ease of doing financial transactions improved, the number of frauds in retail financial transactions have gone up. Fraudsters have been using innovative methods to defraud the hard-earned money of common and gullible people, especially new entrants who are not entirely familiar with the techno-financial eco-system.
The Office of RBI Ombudsman, Mumbai-II has compiled this booklet titled - 'A booklet on Modus Operandi of Financial Fraudsters' . In compiling this booklet, the sole objective of RBI has been to pack between its covers the maximum possible extent of practical information of real value, especially for those who are inexperienced in financial transactions.
This booklet is part of the public awareness building initiative by The Office of RBI Ombudsman, Mumbai-II. Some of the key learnings from this booklet are as follows :