The new insights come close on the heels of an RBI recommendation that financial institutions in India "abandon text-based OTPs as a method of secure authentication."
55% of banking frauds in India were tied to 3rd party account takeovers: Israeli fraud detection firm BioCatch thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
While bank account takeover represents more than half of all fraud cases for customers in India, there is a concerning bump in mule accounts used in these frauds, according to a report.
Money Mule Bank Accounts On The Rise In India: Report menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Money mule bank accounts on the rise in India: Report canindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from canindia.com Daily Mail and Mail on Sunday newspapers.