Appointing nodal officers to tackle cyber security issues, closing down ‘mule’ bank accounts, stepping up monitoring of dormant ones, and calling for more information sharing between various government agencies – these were some of the suggestions that came up during a meeting, organised by the Finance Ministry Tuesday, on issues related to online financial frauds.
The meeting, which was called to discuss issues related to financial cyber security and curbing digital payment frauds, was chaired by Financial Services Secretary Vivek Joshi. It came days after the fallout of the recent case involving erroneous money transfers to the tune of Rs 820 crore at public-sector lender UCO Bank. A second meeting is expected to happen in mid-January next year.