CHENNAI: The Cyber Crime Wing of Tamil Nadu Police has asked banks to strengthen scrutiny of high risk accounts and identify patterns in mule accounts used for cyber fraud.
At a state-level coordination meeting with bank officials held at the Tamil Nadu Police Headquarters on Friday, DGP Mahesh Kumar Aggarwal stressed the need for closer coordination between banks and the Cyber Crime Wing to prevent financial fraud.
The meeting discussed the rising incidence of mule accounts, API based freezing of suspicious transactions, restoration of defrauded money through the Money Return Mechanism (MRM) and grievance redressal.
Banks were asked to study identified mule accounts to establish common patterns and develop mechanisms to assess the likelihood of existing accounts being converted into such accounts. They were also advised to implement enhanced due diligence measures for high-risk accounts to prevent their misuse for cybercrime.
Emphasising public awareness as a key preventive measure, the DGP urged banks to prominently display cybercrime helpline number 1930 and the website www.cybercrime.gov.in in passbooks, cheque books, websites, mobile applications, ATMs and branch offices.
Banks were also advised to undertake cybercrime awareness initiatives under their corporate social responsibility programmes. The meeting was attended by ADGP (Cyber Crime) Abhin Dinesh Modak and other senior officers.
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