Monday, February 11, 2013

Multiplicity of frauds keeps banks jittery

.......Most frauds in the Indian banking system occur at the channel partner's end. While banks have to strictly comply with several regulations, there is no mandated regulatory environment for merchants and retail stores where the card is swiped. Their systems are often hacked to steal customer details. Consumers are also ignorant. All these are adding fuel to fire,”.............

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