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    RBI to come out with a 'fraud registry' with IP addresses & contact details of scammers

    RBI to come out with a 'fraud registry' with IP addresses & contact details of scammers

    RBI to come out with a 'fraud registry' with IP addresses & contact details of scammers
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    By Sapna Das   IST (Published)

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    The new reporting mechanism will carry details of IP addresses, locations and telephone numbers — reported by banks to RBI — of perpetrators defrauding bank customers repeatedly.

    The Reserve Bank of India on Monday said it’s working on a new “fraud registry “ — a reporting mechanism under which data shared by banks with RBI on fraudsters will enable the regulator to blacklist such callers.
    The new reporting mechanism will carry details of IP addresses, locations and telephone numbers — reported by banks to RBI — of perpetrators defrauding bank customers repeatedly.
    Elaborating on the idea, RBI Executive Director Anil Kumar Sharma said, “…if such people are identified with IP addresses, other addresses, locations, telephone numbers, etc, then we can plan to blacklist them. We are working on this ... we are speaking to different agencies ... in time, we will build this kind of registry. “
    Although the RBI has not provided a timeline as to when the registry will be complete, the central bank is urging customers to call their banks immediately the moment they come to know of a suspicious transaction, or become aware that a fraud has been committed .
    Meanwhile, the RBI received over 4 lakh customer complaints last fiscal, up about 9 percent from the 2020-21 fiscal, under its Integrated Ombudsman scheme launched by Prime Minister Narendra Modi last year.
    As per RBI data, issues relating to ATM/debit cards, mobile & electronic banking, and credit cards formed the single largest block of complaints at 39 percent, while issues relating to loans and advances by banks formed the second largest chunk at 28 percent.
    Customers are given 30 days time to resolve their issues, including a matter of fraud, with their banks first. In case this fails, the customers have the option of approaching the Integrated Ombudsman of RBI for grievance redressal.
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