The State Police in Karnataka recommended the establishment of a united national platform for sharing information between coercive bodies, banks, non -banking financial institutions and payment gateway, which they believe are “essential for effective investigation of computer crime”.
This platform would also allow regulatory bodies to monitor compliance with the bank compliance and response to applications for the enforcement agency, argued with the name “Study on the use of Money in Computer Crime” prepared in the field of training and research center for cyber crime investigation.
The expert committee anchored by CCITR for studying and recommendations of ways to involve gaps in financial services to stop the threat of using Mule accounts (accounts hired for use by a third party) in CyberCrsimes also recommended several measures to be taken at the end of the bank. This includes the determination of appropriate transactions for conventional accounts and generating suspicious transactions (STRS) reports based on verified business capacity to avoid abuse of accounts as an intermediate.
“The use of technical methods for identification and monitoring is essential to combat the bounds. AI/ml should be used to detect bumper accounts and alerts should be generated based on the risk assessment and the use of suspicious storage,” the report said.
“To face a change in the telephone number linked to bank accounts, banks should promote strict verification protocols that would require connected phone numbers to be registered either under the name of the account holder or directly associated with the AADHAAR number provided during the account opening. It also recommended that the Indian government to issue this sense, which would “effectively prevent remote accounts from cyber criminals”.
The report also states: “To face the acquisition of false SIM cards used in the operating accounts of the mules, and commit other computer crimes, measures such as conducting geo-marked SIM activation, and perform biometric verification based on AADHAar mandatory for all SIM card activation.
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The report also recommended that regulators impose penalties or fines to banks, payment gates and other financial institutions for not taking proper care in fraud prevention during cybernetics investigation.
Published – 27th June 2025 22:28
