RBI Plans Curbs On Suspect Bank Accounts To Fight Cyber Fraud: Report
NDTV
Tens of thousands of Indians receive daily telephone calls seeking to defraud them by accessing their bank accounts and wallets to siphon off money that then accumulates in the scammers' accounts.
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 every day.
Tens of thousands of Indians receive daily telephone calls seeking to defraud them by accessing their bank accounts and wallets to siphon off money that then accumulates in the scammers' accounts.
