Reserve Bank of India: In today's time, every person opens an account in the bank. In such a situation, a large amount of information has been given by the bank recently to the customers. It has been told that the accounts of some bank customers will be confiscated. Due to this, the problems of the customers can increase a lot and they will have difficulties using these bank accounts. For information, let us tell you that this update related to bank accounts has been issued by RBI. Know the full details about this in the news.

RBI released an update-

All the banks (banking system) providing services in the country want to increase their powers. All the banks in the country want to confiscate the accounts involved in illegal transactions to curb cyber crime through fake accounts. Banks believe that in this situation, a lot of valuable time is wasted in getting orders from the officials in cases (cyber fraud), although it is very important to take quick steps in these cases.

PMLA gave information-

For information, let us tell you that the bank seizes the accounts due to certain reasons. However, according to the Anti-Money Laundering Act (PMLA update), banks do not have the right to seize the customer's accounts without getting approval from the court or law enforcement agencies (LEA), even if he is involved in cybercrime.

Indian Bank Association gave suggestions-

According to the information released by the Indian Bank Association (IBA Update), keeping this issue in mind, IBA has suggested to the Reserve Bank of India (RBI) to consider it further. For information, let us tell you that these fake accounts are used to illegally manipulate money through the Cyber ​​​​Fraudsters Banking System. Every year thousands of such accounts (account seizing rules) are seized by the bank. However, these cyber fraudsters take advantage of the vulnerabilities in the banking system and quickly create new accounts.

Suggestions given for using data-

Banks have also proposed to use Election Commission data for verification of people opening accounts using voter ID cards and Form 60 in the absence of PAN numbers and to set a limit on the number of transactions on such accounts (Transaction Limit Per Day).

Suggestions given in the report-

Suggestions have been given in the report that AI and machine learning are linked to the transaction monitoring system. The working group said that the financial sector can become more secure with investment in technology, training of staff, and cooperation between stakeholders (Update for Stakeholders).

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