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UPI FRAUD FRAMEWORK
RBI plans simpler cross-border payment approvals to boost MSMEs, exporters: EY reportThe Reserve Bank of India (RBI) is looking to simplify cross-border payment approvals and reduce regulatory friction for businesses and exp...- 84% of Indian banking leaders report rising fraud losses, AI-driven threats emerge as major concern: ReportAs artificial intelligence increasingly reshapes the financial sector, Indian banks are facing a sharp rise in fraud-related challenges, wi...
- Citi leverages AI to transform payments, boost efficiency and enhance cross-border transactionsCiti is leveraging AI to revolutionize its payments business, enhancing developer efficiency by up to 40% and streamlining complex cross-bo...
- Forensic experts call for AI-driven playbook to counter deepfakes and digital scamsFinancial crime is evolving rapidly with AI-generated deepfakes and complex fraud rings. Traditional methods are no longer sufficient. Expe...
- Why India cannot build a world-class fintech champ yetIndia boasts world-class digital finance but lacks global consumer fintechs. Regulatory hurdles prevent innovation, unlike in markets with ...
- India to use AI to protect consumers from money mule banking cyber fraud, announces Home Minister Amit ShahIndia will now use Artificial Intelligence to fight money mule banking cyber fraud. The Home Minister announced a partnership between the I...
- Mythos: A challenge for the Indian banking systemClaude Mythos, a cutting-edge AI tool, has unearthed significant weaknesses in cybersecurity systems. In response, Indian authorities are s...
- Beyond KYC: Why digital trust needs real-time intelligenceAshok Hariharan of IDfy argues that digital trust must evolve beyond one-time KYC to continuous, intelligence-led risk assessment across th...
- RBI deploys AI to counter surge in hacking attempts; urges payments industry to trust regulationThe RBI is using artificial intelligence to combat a surge in hacking attempts on its website, all of which were successfully blocked. A se...
- Sebi rolls out Verified App Label to curb fraud, bolster investor protectionSecurities and Exchange Board of India launched a Verified App Label initiative with Google to help investors identify genuine trading apps...
- Mobikwik appoints Anis Pathan as chief risk officerIn a statement, the company said Pathan will lead the company’s enterprise risk management (ERM) framework, overseeing strategic, financial...
- Compensation for cyber fraud: RBI’s new initiative works for many customers but know when it doesn’t work for othersDigital transactions are rising in India. This has led to an increase in digital frauds. The RBI is proposing compensation for customers lo...
- Cyber fraudsters using new tech to bypass UPI security for financial transactions: ReportNew technology is bypassing UPI app security. Fraudsters are using a toolkit called "Digital Lutera" to steal money. This attack manipulate...
- RBI tightens norms against mis-selling, coercive recovery: Impact on consumersThe Reserve Bank of India is prioritizing customer protection in its latest monetary policy. New rules will target mis-selling of financial...
- UPI stocks Paytm, Mobikwik fall up to 4% after RBI proposes transaction fraud frameworkUPI stocks Paytm and Mobikwik fell up to 4% after the RBI proposed a framework to compensate customers for small value fraudulent transacti...
- SBI’s Setty calls for national financial grid, digital payment intelligence body to fight fraud and increase credit accessIndia must develop shared digital infrastructure to combat fraud and boost credit access. This is crucial for achieving the Viksit Bharat e...
- India Fintech Foundation asks govt, RBI to address concentration risk on UPI paymentsIndia Fintech Foundation has alerted the Finance Ministry and RBI about a major risk on UPI. Two companies now control over 80 percent of U...
- How SEBI’s new UPI handles, verification tools help investors avoid fraudSEBI has rolled out "Validated UPI Handles" and "SEBI Check" to significantly bolster investor payment security. Registered intermediaries'...
- Capital market payments via UPI down 22%UPI transactions for capital market investments experienced a 22% year-on-year decline in volume from June to August, totaling ₹1.51 lakh c...
- Zerodha’s Nithin Kamath warns of rising broker frauds as SEBI rolls out UPI safeguardsTo combat rising fraud, SEBI introduces a new UPI security feature for registered intermediaries like brokers and mutual funds, effective O...
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