Internet
banking risks in India are high and even RBI
acknowledged risks of e-banking in India. Despite this
position, banks in India
are ignoring
the cyber
security due diligence requirements prescribed by RBI. The online
banking risks in India have increased tremendously due to this
position.
RBI has also released a report
of the RBI working group on securing card present transaction in
order to provide preventive measures for ATM
frauds in India. Sill Internet
banking frauds in India and ATM Frauds are increasing. Banks in India
are not serious about cyber security and they are not following the recommendations
of RBI.
See PTLB’s
Blog for more.
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