Indian banks have proposed integrating their systems with the National Cybercrime Reporting Portal (NCRP), a division of the ministry of home affairs, which could enable a quicker freeze on fraudulent accounts in the wake of a cyberattack.
This is intended to prevent those who commit cybercrimes and phishing attacks from swiftly transferring funds from a target’s bank account to accounts with various banks before it is withdrawn or spent. This is a tactic employed by voice phishers and cyber shysters to make it more difficult for banks and law enforcement to recover the funds.
“Banks, in consultation with cybercrime experts, have recommended API integration with the NCRP to reduce the average response time and quick updation of cases. So, the idea is to mark a lien and freeze a bank account automatically without manual intervention,” noted a banker. “An industry sub-group has suggested this to I4C,” said the person.
I4C, or the Indian Cybercrime Coordination Centre, is an MHA programme that focuses on combating cybercrime and enhancing coordination between law enforcement agencies (LEAs) and institutions such as banks. NCRP is a vert
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