Panchkula: Even as Haryana Police is strengthening the system to control cybercrime, the state’s Director General of Police (DGP) Shatrujeet Kapur has urged the banks and fintech companies to chip in for the purpose as fake bank accounts are used by cybercriminals to commit frauds.
Chairing a state level conference here, the DGP gave necessary directions to officials of banks and fintech companies to follow the new Reserve Bank of India (RBI) guidelines, specifically keep an eye on fake bank accounts and take appropriate action.
In this conference, the banking sector and fintech companies were briefed in detail about the new RBI guidelines of November 2024 and January 2025 regarding cybercrime control.
RBI’s Regional Director Vivek Srivastava, NPCI, and senior officials from around 50 banks and fintech companies across the country, including Google Pay, Paytm, Amazon Pay, and PhonePe, along with senior police officers attended the conference.
Though some banks are doing a good job in controlling cybercrime, but to control it effectively, all stakeholders need to work together so that the defrauded amount can be frozen as soon as possible, he said.
In September 2023, only 7% of the amount of cyber fraud was held by Haryana Police, which increased to 27% in November 2024. The DGP emphasized the need to increase this percentage rate to 70% through joint efforts, which can be done after all the banks adopt the RBI’s Mulehunter Artificial Intelligence software.
With the passage of time, the cases of cyber fraud have also increased. In 2023, cyber fraud of Rs 602 crore was committed in Haryana, while in 2024 this figure increased to Rs 980 crore. This figure shows that there is an increase in cybercrime cases, which need to be curbed in time.
Since cyber fraud is done through digital means, it is very important to use the digital platform effectively to stop it. Apart from this, he also appealed to inform the helpline number 1930 immediately in case of cyber fraud.
DGP Kapur urged the bank officials to keep an eye on suspicious transactions in bank accounts and take appropriate action if they find any suspicious bank account transactions.
Interestingly, Inspector General of Police (Cyber) Shivas Kaviraj shared that while 72927 bank accounts were opened in December 2023, this number increased to 128963 in November 2024, which is a serious issue. If every banker works under the new policies of RBI, then cybercrime can be controlled. Bank officials should take immediate action as soon as they receive a complaint of cybercrime.
RBI’s Regional Director Vivek Srivastava explained in detail about the new RBI policy, the system and procedure in case of cyber fraud, and asked all banks to follow its guidelines. Along with this, he also cleared the doubts of the representatives from the banks.
In the conference, Parul, an officer from the RBI, shared detailed information about the AI-based Mulehunter software developed to identify fake bank accounts involved in cyber fraud. With this system, fake bank accounts can be identified with 90% accuracy.
Samarjith, a representative of NPCI, also shared information about the technical aspects being taken to control cybercrime through a PowerPoint presentation. During this, the process of searching for an automated response system for money trails on the NCRP portal and points related to stopping the amount defrauded in the banking channel were discussed.
Apart from this, representatives from HDFC Bank and PNB also informed about the work being done to prevent money mule accounts, KYC, and collusion of bank officials with cybercriminals, and information was given about how to avoid cybercriminals by HDFC Bank and PNB.
