RBI Workshop Highlights Coordination and Technology to Combat Rising Cyber Frauds

The Reserve Bank of India (RBI) held a two-day workshop in Mumbai with executive directors and fraud risk management heads from 60 major banks, alongside officials from the Indian Cyber Crime Coordination Centre, Ministry of Home Affairs, and Maharashtra Police. The workshop emphasized the need for strong governance, internal controls, clear processes, advanced technology, and close coordination among stakeholders to combat rising cyber-enabled financial frauds. Banks shared best practices and technological measures, and RBI highlighted the importance of customer awareness and ongoing collaboration to enhance the banking system's resilience.