India's RBI plans to revise guidelines, allowing banks to temporarily freeze suspect accounts linked to cyber crimes to combat $1.26bn cyber fraud since 2021.
India's RBI plans to revise guidelines, allowing banks to temporarily freeze suspect accounts linked to cyber crimes. This move aims to combat the $1.26bn cyber fraud in financial institutions since 2021. The proposed suspension would target frequently misused accounts used for transferring funds gained from cyber crime. The central bank is considering a centralised body to investigate cyber frauds.
April 25, 2024
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