DETERMINATION OF FINANCIAL AWARENESS ABOUT ATM FRAUDS BASED ON DEMOGRAPHICAL FACTORS IN AKOLA AND AMRAVATI DISTRICTS OF MAHARASHTRA

Abstract

After the wider use of Automated Teller Machine (ATM), the number of frauds has increased rapidly. In Maharashtra state, financial cyber frauds are highest. There were less crimes regarding ATMs, in Akola district compared to district of Amravati. The main objective of the research paper is to find out the awareness in respect to ATM frauds in Akola and Amravati districts of Maharashtra using demographic factors. For primary data collection, a structured questionnaire was prepared and 500 responses were recorded i.e. 250 each from Akola and Amravati districts of Maharashtra state. Secondary data was collected from the web site for the study of financial cyber frauds in and the data from NCRB website was also considered to check the Cyber Crimes in Akola and Amravati District. For analysis of the data, a statistically independent Chi-Square test was conducted to check the association of demographic factors with ATM fraud awareness. This research paper is based on financial awareness of ATM frauds.