In India, banks are considering a proposal to integrate their systems with the National Cybercrime Reporting Portal (NCRP) to prevent swift fund transfers by cyber fraudsters during attacks. The initiative aims to streamline the process of freezing accounts and recovering funds in cases of digital crimes and phishing attacks. The goal is to prevent digital criminals and phishing attackers from rapidly transferring funds from the hacked bank account to multiple other banks.

The idea is to mark a lien and freeze a bank account automatically without manual intervention was proposed to the Indian Cybercrime Coordination Centre. In the case of a cybercrime, such as a hacked internet banking account API integration would allow instant sharing of fraud information with other banks. Read more about this story on our LinkedIn page