Analysis of financial frauds in electronic payment systems in India and China

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Arnab Chatterjee


This paper aims to study various fraud occurrences in India and China and their outcomes on the general public. Financial transactions have become easy since the invention of internet, but some miscreants called fraudsters are using it for unlawful activities which causes huge financial losses worldwide every year. The results of this research can be used by financial organizations around the world for customer’s awareness and education and also in making better policies for protecting the citizens and bank from financial frauds in respect of financial activities, geographical location and its usage. In both the countries used to conduct research the quotative data is being used to test the fraud occurrence model. The results from this research helps us in understanding different behaviors of customers regarding online transactions and frauds associated with them. It was noted that in China, the satisfaction level of customers was relatively less and service quality was not up to the expected mark in the majority of situations. After conducting this research, the study suggests that a number of areas for improvement in the near future, especially related to fraud detection. If we can research the problems from the financial institution side rather than the consumer’s side we can come up with better solutions to frauds as these institutions deal with fraud on a regular basis. The aim of the paper is to create a precise and statistical occurring globally and understanding of various frauds by using three approaches (geographical factors, IT usage and financial activities).

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