ISO 20022 and the new era of financial crime prevention through data-driven insights
According to NASDAQ’s Global Financial Crime Report 2024, fraud losses totalled $485.6 billion from a range of devastating fraud scams…
Tag: reserve bank of india
RBI’s new weapon against fraudsters
The Reserve Bank of India is working with fintech institutions to fight mule account cybercrimes. They have developed advanced algorithms…
Banks unlikely to face shocks, but tech can’t fix all the cost worries
Indian banks are preparing for higher compliance costs, tighter margins, and tougher fee competition, potentially affecting 2025 earnings. Operational costs…
As digital banking increases cyber crimes, RBI asks banks to strengthen risk management standards
The Reserve Bank of India (RBI) said with the rise in digitisation, it has seen an increased risk of cyber…
Banks to use AI & Machine learning to safeguard customers from financial frauds: Department of Financial Services
In a significant move to address the growing menace of digital financial frauds, the Department of Financial Services (DFS) has…
BFSI at Innovation and Regulation Crossroads
Of late, there has been a lot of upheaval in the banking and fintech world with the Reserve Bank of…
How India can bolster cybersecurity in Public Sector Banks: A strategic blueprint
By making cybersecurity a national priority and adopting a robust, multi-layered strategy, India’s public sector banks can defend against current…
Indian lenders lag global peers on cybersecurity spends: BCG
“As you think about increasing digitalization, having consumer trust is very important,” Chitkara said. Cyber breaches can result in a…
Banks need to be cautious with 3rd-party vendors: RBI’s Swaminathan
Speaking at a convention organised by the International Association of Deposit Insurers, RBI deputy governor J Swaminathan called upon banks…
Prashant Maldikar takes charge as Head of Cyber Security at IFTAS, a RBI Subsidiary
In his new role, Prashant Maldikar will be responsible for developing function, strategy, and roadmap to drive Cyber Security from…