Under the RBI proposal, if an individual customer loses up to Rs 50,000 in a genuine fraudulent electronic transaction, they may receive 85% of the net loss or up to Rs 25,000.

MUMBAI: The RBI has issued amended directions proposing stronger safeguards for customers facing digital fraud by increasing the compensation percentage to 85 b ...

While fraud doesn't pose a systemic threat to India's banking system, there are significant and ever-present risks at the customer level, as the ₹590-crore fraud at IDFC First Bank shows.

Overview India’s digital payments ecosystem is expanding rapidly, increasing exposure to phishing, UPI fraud, and identity ...

For fraud involving losses of Rs 29,412 or more but up to Rs 50,000, where the maximum compensation of Rs 25,000 is paid, the ...

Delhi court rejects bail plea of alleged kingpin in bank fraud case ...

President Trump declared a 'war on fraud,' but experts say it's a battle that has eluded presidents for decades.

Overview: AI agents automate routine banking tasks, speeding up services like account opening and loan approvals.They enhance ...

New York Attorney General Letitia James released the top 10 consumer complaints and tips to avoid scams.

New Yorkers are already feeling the squeeze of higher prices, and scams, hidden fees, and deceptive practices can make daily ...

The Reserve Bank of India has proposed new draft guidelines for customer protection in electronic banking, effective July 1, 2026. These rules aim to offer compensation for small-value online frauds ...