Naavi
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IICA Qualified Independent Director
Book Cyber Crimes
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Category Archives: Bank
Migrating to Adaptive Authentication
Banks in India have been traditionally using the “Legally Non Compliant”, “Password based Authentication” for their E Banking requirements. As a result there are frequent customer-Bank conflicts where the customer demands that Bank should undertake the liability on account of … Continue reading
Posted in Bank, ITA 2008, RBI, Uncategorized
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Banking Ombudsman Scheme under Review
As one of the follow up measures of Damodaran Committee report on Customer Service, RBI has set up a committee to review the Banking Ombudsman scheme. (Refer details here). Members of the public who have their views on the functioning … Continue reading
Posted in Bank
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Banks can be fined upto Rs 1 crore for violating RBI regulation
The Banking Regulation Act amendment Act 2012 which was recently passed by the Parliament has now become effective.(See PIB Press Release). It amends several provisions of the Banking Regulation Act 1949. Some of the amendments are directed towards new Branch … Continue reading
Posted in Bank, ITA 2008
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46% of Bank Customers donot trust Internet Banking System! (?)
An interesting survey conducted in three countries namely US,UK and Germany have indicated that 46% of the consumers donot trust websites which rely only on “Passwords” for authentication. (Refer findings here) If the findings of this survey is extended to … Continue reading
Posted in Bank, Cyber Law, RBI
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ICICI Bank, AXIS Bank and HDFC Bank involved in money laundering
A sting operation by an organization called Cobrapost has revealed that three Banks namely ICICI Bank, Axis Bank and HDFC Bank are involved in systematic money laundering operations. What is important now is not to just close this incident as … Continue reading
Posted in Bank, Cyber Crime
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Mobile Payments-FTC workshop
The Federal Trade Commission (FTC) of USA which oversees consumer protection requirements has come up with a document on mobile payments. The document discusses aspects such as concerns on third party billing in carrier bills, data security, dispute resolution and … Continue reading
Posted in Bank, Cyber Crime, Cyber Law
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