Online shopping scams are not new. They are actually old-school tricks, wherein scammers – pretending to be legitimate online sellers — use either a fake website or a fake ad on a genuine retailer site to trap customers. Online shopping is loved by many people. The main reason why a lot of people prefer online…
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The Reserve Bank of India (RBI) on Tuesday issued a warning, informing the general public against recent upticks in fraudulent activity. The RBI put out a tweet on September 13 cautioning people against bank fraud related to Know Your Customer (KYC) documents. The apex bank warned people on its tweet and its press release against sharing their personal account-related information with…
The National Payments Corporation of India (NPCI) has introduced detailed guidelines for banks to redress frauds perpetrated on customers and merchants where a misuse or an error in biometric data or UIDAI seeding on Aadhaar Enabled Payment System (AePS) have led to a loss of funds.
As per AePS fraud liability guidelines, introduced formally from…