Bank of Baroda (BoB) World app scam could be tip of iceberg, RBI should appoint IT auditors in banks: Forum

Bank of Baroda (BoB) World app scam could be tip of iceberg, RBI should appoint IT auditors in banks: Forum

The RBI governor, Shaktikanta Das, has been urged by a civil society platform to implement an information security (IS) audit mechanism for banks that have mobile banking apps, and asked banks detect any malpractices, such as substitution of biometric details of customers at the time of account opening. “We now intent to convey our concerns…

Read More
Bank of Baroda associates stole funds from hundreds of accounts via mobile app, says report- The New Indian Express

Bank of Baroda associates stole funds from hundreds of accounts via mobile app, says report- The New Indian Express

By Online Desk Bank of Baroda has found instances of fraud, in which associates of the bank withdrew money from customer bank accounts by linking their own mobile numbers to customer accounts, Al Jazeera reported in association with The Reporters’ Collective. The audit was ordered three months ago by the Reserve Bank of India after…

Read More