Digital escrow provider Castler gains traction amid rising online frauds

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At a time when cyber frauds and online scams are on the rise globally and in India, Castler, a start-up that specialises in digital escrow solutions, has registered a significant jump in the number of transactions on its platform.
 
This assumes significance as a recent blog by global credit reporting agency major TransUnion stated that the percentage of suspected financial services digital fraud attempts increased 149 per cent globally in the first four months of 2021 when compared to the last four months of 2020.
 
In a separate report, the global agency further stated that “an analysis of global online fraud trends found that since the COVID-19 pandemic began, fraudsters are increasing their rate of digital schemes against businesses” while adding that its Global Consumer Pulse Study found that more than one in three global consumers have recently been targeted by digital fraud related to COVID-19.
 
Launched in January this year, the Delhi-based…

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