[ad_1] MUMBAI: RBI has asked regulated entities like banks to look at alternatives to SMS-based one-time passwords for second-factor authentication. While there are alternatives, a mobile phone is central to all of them. Bankers say that OTPs are susceptible to ‘social engineering’ frauds where one manages to get the customer to divulge the password or…
[ad_1] MUMBAI: The RBI has cautioned the public against ongoing frauds perpetuated under the guise of know your customer updation.The central bank said that anyone who has fallen victim to frauds should immediately complain through the cybercrime helpline (1930) or on the National Cybercrime Reporting Portal (www.cybercrime.gov.in). RBI has also issued a list of dos…
[ad_1] NEW DELHI: The government told the Rajya Sabha that around 12,000 cases of frauds, comprising a total of Rs 461 crore, have been reported over the last three fiscals under “card/internet/ATM/debit cards, credit cards and internet banking fraud” category.Minister of state for finance Bhagwat Karad said, according to inputs received from DoT, over Rs…