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Acceptable due diligence of retailers and enterprise correspondents (BCs) who provide banking providers in rural and distant areas is critical not solely to test frauds but additionally to fortify the monetary ecosystem, sources stated. In accordance with sources, there’s a must strengthen information safety and information safety on the stage of retailers and BCs as possibilities of compromise are increased at that stage.
Subsequently, sources stated, RBI might advise banks and monetary establishments to evaluation the focus of BCs in cyber fraud hotspots and their onboarding, blocking of micro ATMs discovered to be concerned in frauds. This was one of many recommendations made at an inter-ministerial assembly held just lately, sources stated.
