International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Beyond Monetary Loss: Mental Health Impacts of Online Financial Fraud in India

Author(s) Mr. Danish Sufi, Prof. Jagrati Patel, Dr. Geetha Sarasan
Country India
Abstract The rapid advancement of India’s digital economy following the COVID-19 pandemic—fueled by initiatives such as UPI transactions, e-wallet usage, and electronic Know-Your-Customer (e-KYC) systems—has enhanced financial accessibility while simultaneously intensifying exposure to online financial fraud. This study adopts a quantitative cross-sectional design, surveying 100 participants from varied demographic backgrounds, including 29 victims of digital fraud and 71 non-victims. Standardized psychological measures (PHQ-9, GAD-7, and the PTSD Checklist-PCL) were linguistically and culturally adapted for Indian respondents. Statistical results revealed significantly elevated levels of depression (M = 12.7), anxiety (M = 11.3), and post-traumatic stress (M = 36.4) among victims compared to non-victims (p < .01). Furthermore, mental-health distress showed a strong negative relationship with perceived digital trust (r = –.52, p < .001). These outcomes suggest that the repercussions of online financial fraud extend well beyond monetary loss, manifesting in profound psychological distress and diminished confidence in digital platforms. The findings highlight the urgent requirement for trauma-responsive, mental-health-integrated policies to strengthen user resilience in India’s rapidly expanding digital finance landscape.
Keywords : Online Financial Fraud; PTSD; Depression; Anxiety; Digital Trust
Field Sociology > Philosophy / Psychology / Religion
Published In Volume 8, Issue 1, January-February 2026
Published On 2026-01-23
DOI https://doi.org/10.36948/ijfmr.2026.v08i01.67268
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