With internet banking on the rise, frauds are just a click away

As most banks urge customers to shift to the virtual space, their ability to create fortresses against cyber aggresses has come into the spotlight. ET argues that banks’ current defences against online fraud are not unbreachable.These are a few cases of online fraud that came to light recently. With electronic banking on the rise, lenders have become vulnerable to the risks of such transactions, even as regulations are becoming more stringent as far as know your customer (KYC) rules are concerned.

SOURCE: economictimes.indiatimes.com