READ THIS: Grandson has no right to grandfather’s property held by father, Supreme Court rulesThe development marks a significant step towards strengthening consumer protection against increasingly sophisticated cybercrime. Under the proposed safeguards, banks may be required to temporarily suspend unusual transactions that deviate from an account holder’s normal transaction history, alert the police about suspicious activity and conduct physical verification to establish whether a transaction is genuine.
The Supreme Court has also directed the RBI to submit a list of all authorised financial institutions. The bench said it would examine the central bank’s proposed Know Your Customer (KYC) Amendment Directions, 2026, before allowing the regulatory process to proceed. The directions are expected to be notified by November 30 and operationalised by December 31.The court has simultaneously asked WhatsApp and other digital intermediaries to outline measures to prevent digital arrest scams and related cybercrimes. These platforms must also submit their proposals to the Indian Cybercrime Coordination Centre (I4C).During the proceedings, WhatsApp’s counsel informed the court that the platform had acted against 9,400 accounts and was developing software to identify suspicious accounts and warn users.
ALSO READ: From Jesus & Mary College student to the Chief Justice’s chair: Who is Justice B V Nagarathna, set for a 37-day CJI stint?The scale of the problem remains significant. According to the court’s observations reported by The New Indian Express, victims had lost around Rs 800 crore to cybercrime this year, despite a reported 50% decline in such offences.Digital arrest scams typically involve fraudsters impersonating police officers or officials of agencies such as the Central Bureau of Investigation. They threaten victims with arrest, often through prolonged video calls, and pressure them into transferring money.
Click Here For The Original Source.
——————————————————–
