MUMBAI: It’s now Raising issue that Jan Dhan accounts can be misused by 'money mules', RBI today warned they are "very vulnerable" to frauds and asked banks to be on guard against such activities.
Reserve Bank deputy governor SS Mundra said banks should have a proper mechanism to monitor transactions in these accounts.
"The newly opened accounts under the PMJDY (Pradhan Mantri Jan Dhan Yojana) could be very vulnerable to fraud practices. Banks need to clearly guard against such activities.
Reserve Bank deputy governor SS Mundra said banks should have a proper mechanism to monitor transactions in these accounts.
The newly opened accounts under the PMJDY (Pradhan Mantri Jan Dhan Yojana) could be very vulnerable to fraud practises. Banks need to clearly guard against misuse of these accounts from money muling," Mundra said at an event here today.
He said third parties can be used to launder the proceeds of fraud schemes (such as phishing and identity theft) by criminals who gain illegal access to deposit accounts by recruiting them as 'money mules'
"The newly opened accounts under the PMJDY (Pradhan Mantri Jan Dhan Yojana) could be very vulnerable to fraud practices. Banks need to clearly guard against such activities.
Reserve Bank deputy governor SS Mundra said banks should have a proper mechanism to monitor transactions in these accounts.
The newly opened accounts under the PMJDY (Pradhan Mantri Jan Dhan Yojana) could be very vulnerable to fraud practises. Banks need to clearly guard against misuse of these accounts from money muling," Mundra said at an event here today.
He said third parties can be used to launder the proceeds of fraud schemes (such as phishing and identity theft) by criminals who gain illegal access to deposit accounts by recruiting them as 'money mules'
No comments:
Post a Comment