SMS Scams Against Indian Banks Surge 146%: Report

Meanwhile, web browser-based fraud sessions declined by 10 per cent, underscoring the continued shift toward mobile attack channels.

Investigators detected more than 8.5 lakh mule accounts across more than 700 branches of multiple Indian banks in 2025.

Cyber-fraud complaints in India reached Rs 22,496 crore in 2025, alongside 26.48 lakh mule cases, while Rs 9,055 crore was declined through the suspect registry.

“SMS scams are particularly effective because they exploit trusted communication channels, making fraudulent messages appear legitimate and prompting customers to act before they stop to question what they're seeing,” said BioCatch Director of Global Fraud Intelligence Tom Peacock.

The report also noted a 35 per cent increase in the total value of attempted fraud payments, while average call length declined 31 per cent and median fraud session length fell by 32 per cent.

“The combination of higher-value fraud attempts and shorter calls and sessions tells us attackers are becoming far more efficient,” Peacock said.

“Scams are increasingly refined, with criminals using well-rehearsed social engineering and automated techniques to persuade victims and move money before warning signs appear.”

India’s rapid adoption of Unified Payments Interface (UPI), mobile banking, e-commerce, and online investment platforms has created a highly digital payments ecosystem that remains an attractive target for fraudsters.

“The encouraging news is that we’re seeing greater collaboration between banks, the Reserve Bank of India, the I4C, and law enforcement,” said BioCatch Global Advisory Director Subhashish Bose.

“Behavioural intelligence helps banks move beyond point-in-time authentication to continuous assessment of user intent, enabling them to detect scams earlier and respond more quickly,” he added.