Indian fintech is growing rapidly, but it’s also riddled with fraud.

Indian fintech is growing rapidly, but it’s also riddled with fraud.
The sector’s growth is driven by a large unbanked population, increasing smartphone penetration, and supportive government policies.
However, the lack of regulation and oversight has led to an increase in fraudulent activities.
Scammers exploit the system’s loopholes and the public’s lack of financial literacy.
The government and regulatory bodies are struggling to keep up with the pace of innovation and the scale of fraud.
There’s an urgent need for stronger regulations, better consumer education, and more robust security measures.
Despite the challenges, the potential of Indian fintech remains huge, attracting both local and international investors.