SAYAN GHOSAL The government’s recent demonetisation scheme has given a fillip to digital transactions in the traditionally cash-based economy. Amid the changing times and the plethora of conveniences associated with e-payments, experts have again highlighted the lack of a comprehensive data protection and privacy framework. The Nilson Report, a trade newsletter covering the card and mobile payment segments, estimates fraud losses incurred by banks and merchants in electronic transactions reached the equivalent of $21.8 billion in 2015. This figure is expected to grow as more and more transactions go cashless. India’s recent brush with transactional fraud, involving 3.2 million debit cards, have highlighted the growing necessity of ensuring safety and security in the digital payment space. Advent of an e-payment regime now places a greater responsibility on the government, corporate entities and citizens alike to spread awareness about the associated risks, to ensure a well-protected f