Lok Sabha Question No. 1354 (UNSTARRED), answered on 2021-12-06
Subject: Banking Frauds
Ministry: FINANCE
Asked by: Rajiv Ranjan (Lalan) Singh

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## LOK SABHA UNSTARRED QUESTION NO-1354

ANSIERED ON- 06/12/2021

## BANKING FRAUDS

Will the Minister of FINANCE be pleased to state: -

- a) as hackers take confidential data therefrom;
- (6) if the details of the steps taken to control the fraud; SO, being banking
3. the number of ATMs installed all over the and the target for installation of ATMs till 2022; country
4. (d) whether ATM facilities are still not available to remote areas in the country; and
5. (e) if so, the details thereof with the corrective steps taken by the Government in this regard? along

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE

## (DR BHAGWAT KARAD)

- (a) and (): Digitalisation of services has helped banks in increasing C fficiency, reach and competitiveness, and has also facilitated financial inclusion of unbanked: It has also helped in delivery of prompt and better customer services: At the same nature of risks associated has also changed. A number of measures have taken to such risks and in turn to prevent the following: banking time, been mitigate
- (ii) ANational Cyber Crime Reporting Portal has been launched to enable public to incidents pertaining to all types of cybercrimes, and operationalised to assistance in lodging online complaints get
- Indian Cyber Crime Coordination Centre has been established to provide a framework and ecosystem for law enforcement agencies (LEAs) for with cybercrimes (including frauds related to credit   cards, debit   cards, online banking;  etc:) in a comprehensive and coordinated manner dealing
- (i) Financial Cyber Fraud Reporting and Management System module has been launched for immedliate reporting of financial frauds and to stop siphoning-off of funds by the fraudsters.
- (iv) The Indian   Computer   Emergency   Response Team (CERT-IN) issues alerts and advisories regarding latest threats and countermeasures On basis to ensure safe usage of digital technologies, and is working in coordination with service providers, regulators and LEAs to track and disable phishing websites and facilitate investigation of fraudulent activities: regular cyber
- CERT-In is providing the requisite leadership for the CSIRT-Fin (Computer Security Incident Response 'Team-Finance Sector) operations under its umbrella for responding containment and mitigation of security incidents reported from the financial sector\_ cyber to,
- (vi) Reserve Bank of India (RBI) has advised banks to in place a Board ~approved cyber-security policy elucidating the strategy containing an appropriate approach to combat threats. have cyber

Further, to strengthen customers from fraudulent transactions, RBI has advised banks for corrective measures in respect of security and risk mitigation related to electronic / digital transactions, including, inter-alia, the following:

- () Capping the value/ mode of transactions/beneficiaries, setting daily limits and alerts upon addition of beneficiaries; issuing
- For securing card transactions, inclusive of online alerts for all transactions, certification of merchant terminals, and conversion of magnetic strip cards to EMV chip and PIN cards;
- (i) Requiring PIN entry for all ATM transactions, and enabling all ATMs for processing EMV chip and PIN cards;
- (V)A number of security features added in Prepaid Payment Instruments (PPIs) wallets, introducing time-out features, authenticating every wallet payment transaction by customer consent, provision of customer-induced for capping the number and value of transactions, suitable for funds transfer on opening of PPI, and issue Of alerts for PPI transactions; and options cooling period
- To ensure that all new debit and credit cards are issued only for domestic usage unless international use is by the customer: specit fically sought

to (e): As per RBI scheduled commercial banks have installed 2,13,145 ATMs up to September 2021. In addition to White Label ATMs (WLA) were also installed by WLA operators up to September 2021. Out of these, 47.4 % of the ATMs are installed in the rural and semi-urban centres. WLA Scheme was introduced as extended delivery channel for banking services, especially in tier III to VI centres. With to the target of installation of ATMs, RBI has apprised that WLA operators are required to deploy a minimum of1000 ATMs every year and to maintain a deployment ratio of 1:2.3 for Metro & Urban, Semi-Urban; and Rural respectively: data, regard regions

Xxxxx