Blacklisting of websites, phone numbers would help prevent repeat offences, says RBI ED Sharma
Blacklisting of websites, phone numbers would help prevent repeat offences, says RBI ED Sharma
The Reserve Bank is considering setting up a fraud registry to create a database of fraudulent websites, phones and various modus operandi used for digital fraud.
Such a database will help prevent fraudsters from repeating the fraud as the websites or phone numbers would be blacklisted, RBI executive director Anil Kumar Sharma said on Monday.
“There is no definite timeline for setting up of the fraud registry. At present, we are talking to different stakeholders including different departments like payments and settlement and supervision of RBI,” he said.
Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks.
Mr. Sharma also said that the customers of the Core Investment Company (CIC) would come under the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2021.
Prime Minister Narendra Modi had last year unveiled an integrated consumer grievance redressal mechanism for addressing service deficiencies in banking, NBFCs and digital payment systems.
To make the alternative dispute redressal mechanism simpler and more responsive to customers of regulated entities, the Prime Minister had introduced the ‘One Nation One Ombudsman’.
Sharing complaints filed under the Ombudsman Scheme, Mr. Sharma said, 4.18 lakh complaints were received during 2021-22 as against 3.82 lakh in the previous year. As many as 97.9% cases were cleared last financial year compared with 96.5% in the previous year.
Stressing that customers should never share account details with anyone, he said they should immediately report any fraud related incidence to the bank to minimise his or her risks.
“Do not download any unknown app on your phone or device,” he said, adding that customers should always access the official website of a bank, NBFC or e-wallet provider.
