BoB World app scam:
According to news agency Business Standard:The RBI may advise banks and financial institutions to assess the concentration of Business Correspondents (BCs) in areas prone to cyber fraud and to scrutinize their onboarding processes, including the blocking of micro ATMs implicated in fraudulent activities. This recommendation emerged during an inter-ministerial meeting convened recently to bolster cybersecurity measures and combat financial fraud.
According to data compiled by the National Crime Records Bureau (NCRB), a staggering 11,28,265 cases of financial cyber fraud amounting to Rs 7,488.63 crore were reported during 2023.
In a concerted effort to enhance the nation’s capacity to combat cybercrimes comprehensively and cohesively, the central government, through the Ministry of Home Affairs, has established the ‘Indian Cyber Crime Coordination Centre’ (I4C) aimed at addressing all forms of cybercrime nationwide.
