Cyber Fraud Circumstances Stories Crossed Over 14,000 in 2021, MoS Intypes Parliament

As many as 14,007 cyber fraud circumstances had been registered in 2021, Parliament was knowledgeable on Monday. 

Quoting National Crime Records Bureau (NCRB) knowledge, Minister of State for Finance Bhagwat Karad stated “total number of cyber fraud cases which includes…frauds committed through online apps is 14,007 in 2021 (latest published data pertains to the year 2021).”

RBI issued regulatory pointers on digital lending on September 2, 2022 aimed toward firming up the regulatory framework for digital lending whereas enhancing buyer safety and making the digital lending ecosystem secure and sound, he stated in a written reply in Lok Sabha.

As many as 1,062 complaints associated to ‘digital lending apps’ acquired by the Offices of the RBI Ombudsman (ORBIOs) towards REs below Reserve Bank – Integrated Ombudsman Scheme, 2021 (RB-IOS) had been acquired between April 1, 2022 and March 31, 2023, he stated.

This regulatory framework is predicated on the precept that lending enterprise will be carried out solely by entities which are both regulated by it or entities permitted to take action below another legislation, he stated.

All the Regulated Entities (REs) are required to adjust to the stated pointers on digital lending, he stated.

Compliance with these pointers are examined on pattern foundation throughout supervisory evaluation and any non-compliance noticed is taken up for rectification aside from initiating supervisory/enforcement motion, as deemed match.

The Enforcement Department of RBI has not imposed any financial penalty on REs for non-compliance with pointers on digital lending issued on September 9, 2022.

In reply to a different query, Karad stated, the ‘Depositor Education and Awareness Fund Scheme, 2014’, was notified by Reserve Bank of India (RBI), which covers norms associated to unclaimed deposits and descriptions particulars of utilisation of fund.

As a results of varied steps undertaken to return the unclaimed deposits to their rightful house owners/claimants, whole Rs. 5,729 crore has been transferred from the fund to banks in direction of refund of settling unclaimed deposits, in final 5 years, he stated.

RBI has additionally launched marketing campaign ‘100 Days 100 Pays” for banks to hint and settle high 100 unclaimed deposits of each financial institution in each district of the nation inside 100 days, from June 1, 2023 to September 8, 2023, he stated.