Nepal Rastra Bank Urges Banks to Strengthen Cyber Fraud Monitoring During Festive Holidays
Summary
Nepal Rastra Bank has directed banks and financial institutions to tighten monitoring against cyber fraud and scams during the Vijaya Dashami, Deepawali and Chhath holiday period. It has also asked them to assign focal persons and share contact details with Nepal Police Headquarters for faster handling of suspected electronic financial fraud cases.
Key Points
- Nepal Rastra Bank has told banks and financial institutions to strengthen cyber fraud monitoring during the festive holiday period for Vijaya Dashami, Deepawali and Chhath 2083.
- Institutions must designate a focal person to coordinate electronic financial fraud cases and provide transaction details promptly to authorities.
- Banks are also instructed to identify suspicious accounts and transactions and place them on hold when necessary.
- The required contact details, including a 24/7 monitored email address, must be submitted to Nepal Police Headquarters.
