Our phones have become a window to the world. Be it online shopping, entertainment, social media, online classes, recharges, bill payments or banking, a digital banking solution is a go-to spot for the customers. Most of the tasks are now possible on just a 5-inch screen. This phenomenon however has led to the rise of phishing scams that involve hijacking mobile banking platform user’s financial data embedded during online financial transactions. Such incidences put the credibility and reputation of the service provider at stake.

The year 2018 recorded 14.4 million victims of identity theft fraud. It has been predicted that by year 2022, only 17% of the total global transactions will be made in cash. Currently, with the social distancing norms and lockdowns in several parts of the world, more and more people are opting to transact through online banking platforms and falling in the radar of phishers. Here we will know everything about mobile wallet frauds, battling them and emerging a winner.

Common Types of Mobile Banking Frauds. Checkout here - https://www.panamaxil.com/blog/understanding-mobile-banking-frauds/.