Article

Despite growing awareness around financial literacy, India continues to lose an estimated ~US$100 million each year to Ponzi schemes. In many parts of the country, financial education has come too late, only after countless individuals have already fallen victim.

UPI-related frauds have surged by 85%, rising from 725,000 cases in FY23 to 1.34 million cases in FY24. While UPI has transformed India’s digital payment landscape, the spike in fraud follows a familiar trajectory. As financial systems evolve, from counterfeit currency to forged cheques, and now digital transactions, so do the methods of exploitation.