2FA (Two-Factor Authentication) is crucial to reduce cyber fraud risk, adding an extra layer of security through methods like biometric authorization and time-based codes.
Zerodha ensures employee safety with mandatory 2FA for internal systems, strict role-based access, and the use of Linux desktops to minimize vulnerabilities.
Zero cyber risk is not possible, as hacks often exploit human weaknesses, but constant vigilance, good technology, and awareness can mitigate fraud.
"The Anatomy of Fraud 2023" report by Bureau indicates that account-related fraud constitutes 65% of financial fraud cases, with 55% of digital payment frauds in India being UPI-related.