Category: Online Banking

RBI’s circular

How can RBI’s latest guidelines help Indian banks combat cybercrime?

Rising cybercrime in India is no secret. According to a report by Symantec, India now ranks 3rd in the world, after the US and China, as a source of malicious activity. In fact the National Crime Records Bureau data reveals that in the three years up to 2013, registered cases of cyber crime were up 350 percent, from 966 to 4356. Dubious distinctions both, and give banks and the...

nigeria fraud

Nigeria – Online Fraud

Internet Technology for banking: A Boon or A Bane? Internet Technology has opened up new scope for the banking systems .It has enhanced our lifestyle up to some extent and it made our lives easier. But at the same time it comes with some risks because of its associated fraud. According to NIBSS, increasing use of ATM and E-Platform has contributed to accelerated growth of fraudulent activities....

AML as a Service

AML as a Service

AML as a Service Past few months have seen a lot of activity from regulators, bankers and industry bodies alike towards curbing money laundering. Rules are becoming stringent and reporting more accurate. Then there were hefty fines levied on certain banks for non compliance with AML guidelines. During our conversation with bankers, it consistently emerged that bankers have AML compliance as one of their top priorities. This...