Bank fraud : RBI observed in its report that these cases are mostly happening in private banks. According to the data, the number of fraud incidents occurred in private sector banks, while the share of bank fraud amount was higher in public sector banks. Public sector banks have the highest share in card and internet fraud. It is clearly seen that due to the increasing use of online transactions, the cases of fraud are increasing rapidly.
There should be no delay in filing complaint against bank fraud
Need for cyber security to reduce bank fraud
RBI said, must pay attention to security systems. It is also important to make customers aware and increase their vigilance against bank fraud. Banks will have to revisit their cyber security strategies to ensure that frauds occurring on digital platforms are avoided.
Ensure customer confidence to check bank fraud
RBI issued instructions to private banks and said, prepare new strategies. This will not only strengthen the security of banks but will also increase the confidence of customers. It is necessary for everyone to make joint efforts to stop the growing crisis of bank fraud. So that the security of the Indian banking system and customer confidence can be ensured.
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