The Reserve Bank of India on Monday said that it was working on setting up a “fraud registry” that would help blacklist perpetrators of online frauds and prevent use of banking system to stash digitally defrauded amounts.

Talks are on with different stakeholders including departments of the central bank like payments and settlement and department of supervision in this regard, Anil Kumar Sharma, Executive Director, RBI said.

Asked if there was any timeline by when RBI expects this “fraud registry” was expected to go live, Sharma said: “There is no definite timelines for setting up of the fraud registry”.

The fraud registry mechanism would entail identifying and collecting the IP addresses, email IDs and mobile numbers that are routinely used to commit online frauds and blacklist them so as to ensure that the perpetrators are not able to open bank accounts in multiple banks to park the ill-gotten money.  

Nearly 39 per cent of the complaints received by RBI last fiscal related to electronic transactions (including digital banking), RBI officials said. In 2021-22, as many as 4.18 lakh complaints were received by Ombudsman offices and 97.97 per cent was disposed.

Use CMS portal for faster redressal

For lodging complaints under the Integrated Ombudsman Scheme (IOS 2021), bank customers would do it through the ‘CMS’ portal (available 24x7) of the RBI, Sharma said. This would ensure faster and efficient redressal of grievances, he said.

“It’s much more process efficient and redressal is faster if complaint is lodged on CMS portal instead of sending it by email or post. For any complaint to be redressed, we need basic information and that may be missing when complaints are filed through email or in the form of letters. Information is in an unstructured manner in emails and letters,” Sharma said.

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