Nepal, Oct. 15 -- Nepal Rastra Bank (NRB) has directed banks, financial institutions and payment service providers to designate contact persons available round the clock to help combat cyber fraud and prevent stolen funds from being moved during the long Dashain, Tihar and Chhath holidays.

The arrangement aims to speed up the sharing of suspicious transaction details, identify accounts used in fraud and prevent the transfer or withdrawal of stolen money.

In a notice issued on Wednesday, the central bank asked banks, financial institutions, payment system operators and payment service providers to submit the names, designations and mobile numbers of designated contacts, along with email addresses monitored 24 hours a day. The details mu...