Search Results for: bank
SBI introduces a long awaited security measure to control Card frauds
State Bank of India has been one of the Banks specially targetted by Card fraudsters for cloning and fraudulent withdrawal. A few years ago, Damodaran Committee of RBI recommended the most sensible control where by the customer should be given … Continue reading
Unified Payment Interface makes Mobile a better tool for financial frauds
Last week, Reserve Bank of India proudly announced the launch of a “Unified Payment Interface” (UPI) hailed as the next giant leap in “Digital Payment System Innovation”. UPI is expected to make our mobiles a universal instrument for all forms … Continue reading
Virtual Address of UPI scheme.. A pandora’s box
One of the suggestions under the Unified Payment Interface is that the participating bank would issue a “Virtual Address” to the customer. This will replace the account number. This virtual address would be used by remitters to send payment. This … Continue reading
The Unification of Fraud possibilities through UPI
The Unified Payment System launched by RBI on 12th April 2016 on a platform managed by National Payment Corporation of India (NPCI) poses a huge challenge to the security of public money held in Banks. As we go forward, the … Continue reading
Unified Payment Interface introduced… New Threats unleashed…
The RBI has introduced the Unified Payment Interface that is expected to change the way the current payment systems especially over mobile wallets change…hopefully for the better. NPCI (National Payment Corporation of India) has released the details of the architecture … Continue reading
True Caller is abetting Cyber Frauds in India… Is it only a compromise? or Is it Recklessness?
True Caller is a reasonably popular mobile App which many mobile users in India have downloaded and installed. When the user receives a call from another True Caller user, though his name may not be in the contact list of … Continue reading