Bank Regulation: Aiming to Combat Cyber Financial Crimes
The RBI has invited comments on new guidelines aimed at combating cyber financial crimes. This initiative seeks to improve banking security and protect customers from international cyber threats.
The Reserve Bank of India (RBI) has recently invited public comments on an upcoming amendment directions titled 'Reserve Bank of India (Know Your Customer) Amendment Directions, 2026'. This initiative aims to update the existing guidelines on 'Operations of Bank Accounts and Money Mules' introduced in 2025. The Supreme Court ordered the RBI to adopt a Standard Operating Procedure (SOP) for identifying and placing temporary holds on transactions linked to money mule activity and cyber-enabled financial frauds. This move seeks to enhance banking security, protect customers, and reduce India’s vulnerability to international cybercrime. The proposed amendment directions aim to align local practices with global trends in financial regulation, considering the growing concern of cybercrimes both within India and globally. The RBI is seeking public feedback until October 2, 2026, for further refinement before final implementation.
Source: Reserve Bank of India