India expected to surpass the UK for second place in payment card fraud

Thanks to an economy expected to grow larger than the UK this year, a growing middle class, and continued government efforts to digitize the country card penetration has continued to skyrocket in India. However, that penetration has come without an comparable increase in security. Bad actors on the dark web recommend India as a target, with shoddy ATM security and “because most Indian banks don't employ modern anti-fraud systems, Indian payment cards are also in hot demand, as they can be easily cloned and cashed out en-masse.” Time for the banks and payment infrastructure to step up its game,


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