



The image may be subject to copyright





The con of going digital





https://bit.ly/2K1WyE5



According to a report released by Experian provides further clarity on this question. It presents a few important takeaways. Indians face 25% higher risks to financial fraud. Prime Minister Narendra Modi launched his Digital India Movement with an objective to raise the exposure of digital avenues to Indians and make it a cashless economy. The Indian economy then obliged and showed its willingness to become digitally active. This has resulted in a staggering 24% of the Indian public facing financial deceits through digital platforms. Apropos of an article covered in The Economic Times (), I attempt to present my view on the same. I do not intend to own any of the content mentioned there nor try to infringe on their rights by plagiarizing the content. Please feel free to read the same on the link embedded above.According to a report released by Experian provides further clarity on this question. It presents a few important takeaways. Indians face 25% higher risks to financial fraud. Prime Minister Narendra Modi launched his Digital India Movement with an objective to raise the exposure of digital avenues to Indians and make it a cashless economy. The Indian economy then obliged and showed its willingness to become digitally active. This has resulted in a staggering 24% of the Indian public facing financial deceits through digital platforms.





On an average 65% of the surveyed people have turned their backs to offline payments as they find digital payments more convenient. Mobile wallets, apps have made the user experience increasingly friendly for consumers. Enterprises, e-commerce websites also opened their arms wide to accept digital payments. The insistence of using cash still prevails as the Cash-on-Delivery options still exist. However, there’s no denying in the fact that Indians are now okay with keeping the cash bundles at bay.





With the increasing consumption, there is also a tendency of the data being misused, that has been observed. As compared to Japan which tops the list of the highest share of consumers who intentionally guard their data from the online predators, India only has a 6% low.





th when it comes to erroneous data disclosing. Indians were seen sharing their data without hesitation to various digital service providers, like banks and even branded retailers. The segments of Electronics and travel markets reported the highest digital consumption. A staggering figure of 90% of respondents consuming digital services was observed. The report observed that India ranks 4when it comes to erroneous data disclosing. Indians were seen sharing their data without hesitation to various digital service providers, like banks and even branded retailers.





What can be our take away from this report?



With the comfort offered, there’s also a chance of being conned. We should think twice before giving away our financial data to anyone without questioning ourselves if the data asked is relevant to the service they provide. Back up your data and apply cross-checking measures. With the comfort offered, there’s also a chance of being conned. We should think twice before giving away our financial data to anyone without questioning ourselves if the data asked is relevant to the service they provide. Back up your data and apply cross-checking measures.





This consumer survey was taken across a wide spectrum of countries, those including Australia, China, Hong Kong, India, Indonesia, Japan, New Zealand, Singapore, Thailand and Vietnam. However, the number of respondents were undisclosed.



