US EditionNRB Warning: Illegal Bank Accounts, Fraud & Unlawful Payments
4 Articles
4 Articles
The central bank would take action against banking fraud with a five-point package, some elements of which banks may not be happy about.
NRB Warning: Illegal Bank Accounts, Fraud & Unlawful Payments
3rd June 2025, Kathmandu Nepal Rastra Bank (NRB), the central banking authority of Nepal, has issued an urgent advisory to the public and financial institutions. The advisory stresses strict compliance with the Banking Offenses and Penalties Act, 2064 (2007). It prohibits unauthorized account opening and illegal payment demands. NRB warns that violators will face hefty […] The post NRB Warning: Prevent Illegal Bank Accounts, Fraud & Unlawful Pay…
In response to the dramatic increase in digital financial fraud, the central bank has announced a comprehensive defense strategy: a central fraud screening system, stricter expectations for banks, and legislative changes. The main threats are phishing and psychological manipulation. The MNB is extending banks' liability to cases where the customer is persuaded to initiate a payment on the bank's behalf. The question is, of course, whether custom…
According to the vice president of the central bank, it is unacceptable that customers have recently been bearing 90 percent of the losses.
Coverage Details
Bias Distribution
- 100% of the sources lean Left
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
