Bank Account Flagged Over Cyber Fraud, Will All Your Money Be Frozen?
Mumbai: The Reserve Bank of India (RBI) has proposed a targeted system for handling suspicious transactions linked to cyber fraud or money-mule accounts. Under the framework, banks would freeze only the disputed amount instead of blocking the customer's entire account. The draft rules are expected to take effect from April 1, 2027, though banks may implement them earlier. The RBI has invited…
We haven't written up this one. Free Press Journal has the full story — the link below goes straight to it.
