Nearly 16,000 Cyber Frauds Hit SBI in 22 Months

An RTI disclosure has revealed the alarming scale of cyber fraud affecting State Bank of India (SBI), with nearly 16,000 cyber-related fraud cases reported across its branches in just 22 months. The data highlights how India’s largest bank—and its customers—are increasingly vulnerable as banking rapidly shifts to digital channels.

Between January 1, 2024 and October 31, 2025, SBI recorded 15,956 cyber fraud incidents, nearly three times the number of traditional (non-cyber) frauds reported during the same period. The figures were disclosed in response to an RTI filed by activist Abhay Kolarkar, underscoring how fraudsters have moved from physical branches to smartphones, apps, cards, and UPI.

In financial terms, cyber frauds caused losses of ₹118.47 crore, while non-cyber frauds—though fewer—accounted for a higher ₹477.64 crore. Online banking scams formed the largest share, with 6,630 cases and losses of ₹62.37 crore, followed by ATM and mobile banking frauds. The high frequency of cyber scams means everyday customers face constant risk, even if individual losses are smaller.

The RTI also revealed troubling patterns. West Bengal topped the list with 1,838 cases involving ₹12.60 crore, and 606 cases involved SBI employees, accounting for ₹222.24 crore—highlighting the insider risk that can amplify cybercrime.

Experts say cyber fraud is exploding due to sophisticated social engineering, fake customer-care calls, app cloning, mule accounts, and occasional insider collusion—often outpacing user awareness. The data serves as a stark warning: as banking goes fully digital, customers must treat unsolicited calls, links, and OTP requests as malicious by default and act swiftly if fraud occurs.