A significant portion of Indian respondents, 42%, reported encountering financial fraud in the past three years, with mobile and electronic banking scams being prevalent, particularly in urban areas. Scammers continuously develop new methods to bypass security measures like one-time passwords (OTPs), despite efforts by banks, police, and media. A Member of Parliament highlighted mobile phone scams as a threat to India's digitization, suggesting a link to 'enemy nations' and terrorism, a claim dismissed by scammers as they adapt to new security protocols.