bank frauds

Account takeovers, mule accounts leading cause of bank frauds in India

February 21, 2024 · Banking

Account takeovers represent more than half of all banking fraud cases in India, with third-party account takeovers accounting for around 55 per cent frauds, much higher than social engineering…

RBI asks banks to annually review accounts inoperative for over a year

January 1, 2024 · Banking

The Reserve Bank of India has asked banks to annually review accounts that have not seen customer-induced transactions for over a year, and term deposit accounts where there…