SC gives RBI four weeks to frame SOP on cyber fraud accounts
India, Aug. 5 -- Stressing coordinated action, the court sought wider adoption of grievance and money restoration modules to ensure quicker relief for cybercrime victims
Observing that mechanisms to tackle cybercrimes needed "wider adoption, faster implementation and continued follow-up", the Supreme Court (SC) on Tuesday asked the Reserve Bank of India (RBI) to prepare and circulate a Standard Operating Procedure (SOP) in four weeks to deal with bank accounts linked to cyber frauds, including mule accounts.
The Bench was hearing a suo motu matter, In Re: Victims of Digital Arrest Related to Forged Documents. After perusing the consolidated status reports and hearing Attorney General R Venkataramani on behalf of the Government, a Bench ...
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