SecurityMediaNamaabout 1 hour ago
RBI Draft Mandates 60-Day Cyber Fraud Hold Limit
1 min read
The Reserve Bank of India issued a draft procedure on September 11, 2026, requiring banks to lift holds on suspected cyber fraud proceeds within 60 days unless police instruct otherwise. The draft amends KYC Directions, inserting a Standard Operating Procedure for suspected money mule accounts. It follows a Supreme Court order from August 4, 2026, but the draft does not govern police-instructed freezes, which have sparked bulk litigation.
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