Govt meets fintechs, banks to tackle cyber frauds financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
The banks and financial institutions are required to phase out the use of regular 10-digit numbers and use specific number series such as '140xxx’ for commercial or promotional activities as prescribed by TRAI
Financial Frauds: During the deliberation, it was noted that the Department of Telecom (DoT) has developed ASTR, an AI-machine learning-based engine, to detect mobile connections taken on fake/forged documents.
FE Finance ministry on Friday met fintechs and banks such as Punjab National Bank (PNB) and State Bank of India (SBI), and officials from various government departments, to discuss the ways to tackle increasing incidents of recent online financial frauds. The meeting was chaired by Vivek Joshi, secretary, department of financial services, and involved officials…
About 1.40 lakh mobile handsets either linked to disconnected mobile connections or misused in cyber-crime or financial frauds have been blocked, it said.