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INSPIRA-JOURNAL OF COMMERCE,ECONOMICS & COMPUTER SCIENCE(JCECS) [ Vol. 12 | No. 3 | July - September, 2026 ]

Digital Financial Literacy and Susceptibility to Online Financial Fraud among Working Women in Delhi- NCR: The Mediating Role of Protective Financial Behaviour and Financial Confidence

Dr. Jagveer Singh & Jyoti Chauhan

The tremendous growth of digital wallets, mobile banking, internet banking, Unified Payments Interface (UPI) and digital payment systems has been phenomenal disruption in Indian financial ecosystem. These developments have enhanced transactional efficiencies and financial inclusion but have also exposed people to sophisticated online financial frauds such as phishing, vishing, identity theft, QR-code scams, fake investment schemes and social engineering attacks. Our increasing reliance on digital banking has changed financial literacy from traditional budgeting, saving and investing to the ability to identify digital hazards, evaluate online financial data and practice safe financial practices. Working women are a very important group of people in this changing environment. As women’s participation in the workforce, financial independence and reliance on digital services have increased, so too have their prospects and vulnerability to cyber-enabled dangers. Research shows that while inclusion has improved, women still tend to be more risk averse, less confident about their finances and have varying levels of digital skills, all of which can make them more vulnerable to fraud. There has been little attention paid to the behavioral processes through which digital financial literacy contributes to fraud protection, whereas existing studies discuss financial literacy in relation to savings, investment behavior or financial well-being. The current study has conceptualized Digital Financial Literacy as the primary predictor of Online Fraud Vulnerability with Protective Financial Behavior as the mediating variable and Financial Confidence as a significant psychological determinant based on the theory of planned behavior and protection motivation theory. It recommends to do research based on the review of current literature of working women in NCR who regularly make use of digital financial services.  This study contributes to the existing literature by redefining digital financial literacy to include fraud detection and cyber-risk awareness, in addition to financial knowledge and digital competence, and provides practical recommendations for regulators, employers, financial institutions, and legislators to enhance the digital financial resilience of women.

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https://doi.org/10.1111/joes.70109.

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