Published 10 days ago

India plans curbs on suspect bank accounts to fight cyber fraud, sources say

Summary by Rappler

NEW DELHI, India – India’s central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters. The plans come as internal government data shows individuals have lost funds of nearly $1.26 billion in financial institutions to cyber fraud since 2021, with one of the sources saying about 4,000 fraudulent a…

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RBI Plans Curbs On Suspect Bank Accounts To Fight Cyber Fraud: Report

India's central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters. The plans come as internal government data shows individuals have lost funds of nearly $1.26 billion in financial institutions to cyber fraud since 2021, with one of the sources saying about 4,000 fraudulent accounts are opened …

10 days ago·New Delhi, India

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