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The Reserve Bank of India has proposed revised guidelines to strengthen safeguards against unauthorised electronic banking transactions amid rising digital fraud risks. The framework introduces a compensation mechanism for small-value frauds, promotes AI-driven fraud detection tools like MuleHunter.
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The RBI's revised framework is aimed at strengthening safeguards against unauthorised electronic banking transactions and combating the rising risks of digital fraud.
A compensation mechanism has been introduced for small-value fraudulent electronic banking transactions.
The RBI is promoting AI-driven fraud detection tools like MuleHunter.AI, which is an AI/machine learning-based solution for mule account detection.
IDPIC's primary mandate is to detect, prevent, and analyse fraud in India's digital payments ecosystem in real-time by leveraging technologies like AI, ML, and Big Data Analytics.
The RBI is enhancing cybersecurity awareness through financial literacy campaigns, including the Centre for Financial Literacy project, Financial Literacy Week, and the 'RBI Kehta Hai' public awareness campaign.
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