Lok Sabha Question No. 4053 (UNSTARRED), answered on 2016-12-09
Subject: Cyber Crimes in e-Financial Services
Ministry: FINANCE
Asked by: PREM DAS RAI

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UNSTARRED QUESTION NO 4053

TO BE ANSWERED ON THE 9 TH DECEMBER, 2016/AGRAHAYANA 18,1938 (SAKA)

Cyber Crimes in e-Financial Services

## 4053. SHRI PREM DAS RAI:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government has received any reports on cases of cyber crime in the e-financial services platforms;
- (b) if so, the details thereof and the steps taken to regulate e-financial services; and
- (c) whether the Government has set up any platform/institution to tackle disputes related to efinancial services, and if so, the details thereof?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI SANTOSH KUMAR GANGWAR)

(a) to (c): Information furnished by Reserve Bank of India (RBI) on frauds related to ATMI Credit! Debit cards & Net banking during the last three years and current year is given below:-

"

|                   | April 2013: March 2014   | April 2013: March 2014   | April 2014- March 2015   | April 2014- March 2015   | April 2015-' March 2016   | April 2015-' March 2016   | April 2016- June 2016   | April 2016- June 2016   |
|-------------------|--------------------------|--------------------------|--------------------------|--------------------------|---------------------------|---------------------------|-------------------------|-------------------------|
| Area of operation | No. of ~ases             | Amount (Rs in rore)      | No. of Cases             | fA-mount (Rs in crore)   | No. of Cases              | fAmount (Rsin crore)      | No. of Cases            | ~mount (Rsin crore)     |
| Credit Cards      | 7890                     | 55                       | 10382                    | 42                       | 9849                      | 46                        | 1927                    | 7                       |
| ATMI Debit Cards  | 1307                     | 8                        | 2498                     | 14                       | 6585                      | 31                        | 1328                    | 6                       |
| Internet Bankinq  | 303                      | 15                       | 203                      | 24                       | 34                        | 2                         | 18                      | 1                       |

Under RBI's instructions on cyber security, Banks are required to, inter-alia have a Board approved cyber security policy distinct from an IT security policy, arrangement for continuous surveillance, security conducive IT architecture, network and database security, protection of customer information, cyber crisis management plan, sharing of information with RBI, supervisory reporting framework with organizational arrangements for the same and reporting of such incidents to The Indian Computer Emergency Response Team (CERT-In) . In terms of Section 70. B of IT Act, all cyber security incidents are to be reported to CERT-In. Banks have been advised to report all cyber security incidents to CERT-In within two to six hours of the occurrence of any incident.

RBI has established the offices of Banking Ombudsman in various States for redressal of grievances relating to customer service in banks.

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