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Reserve Bank of India imposes monetary penalty on One Mobikwik Systems Limited

Reserve Bank of India (RBI) has, by an order dated November 06, 2026, imposed a monetary penalty of ₹9.00 lakh (Rupees Nine Lakh only) on One Mobikwik Systems Limited (the company) for non-compliance…

  • Reserve Bank of India imposed ₹9.00 lakh penalty on One Mobikwik Systems Limited.
  • Company failed to comply with RBI regulations on Prepaid Payment Instruments and fraud reporting.
  • RBI found non-compliance during statutory inspection from June 2025 to March 2026.

Cyberattacks turned October into a costly month for Nigerian banks

In early October, a wave of cyberattacks, leading to fraud losses, hit several Nigerian banks and financial institutions, potentially costing billions of naira in customer funds, according to several…

  • Nigerian banks suffered significant cyberattacks in October 2025.
  • Three major banks reported ₦2.74 billion ($2.03 million) in fraud losses.
  • GTCO experienced a 450.24% increase in fraud losses year-on-year.

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