Mule a/c check: Agencies eye ‘cooling off’ for fund transfers
Government and RBI are considering a 'cooling off facility' to block funds received in bank accounts to combat online frauds. This measure targets mule accounts used in digital payment frauds. Multiple ministries and banks are collaborating to strengthen verification and prevent misuse, making it a top priority for bank CEOs to address this growing issue.
Government and RBI are considering a 'cooling off facility' to block funds received in bank accounts to combat online frauds. This measure targets mule accounts used in digital payment frauds. Multiple ministries and banks are collaborating to strengthen verification and prevent misuse, making it a top priority for bank CEOs to address this growing issue.
