NRB directs banks to designate 24-hour contacts to curb cyber fraud
Summary
Nepal Rastra Bank has ordered banks and payment service providers to keep 24-hour contacts ready to help curb cyber fraud during the Dashain, Tihar and Chhath holidays. The central bank also backs an Anti-Scam Centre and is considering AI tools to speed up freezing suspicious funds and returning money to victims.
Key Points
- NRB has directed banks, financial institutions and payment service providers to appoint round-the-clock contacts and share them with Nepal Police Cyber Bureau.
- The move is intended to speed up freezing of suspicious accounts and prevent stolen funds from being transferred or withdrawn during the holiday period.
- Nepal Police is developing an Anti-Scam Centre with NRB and other agencies to improve coordination against cyber fraud.
- NRB representative Sushil Poudel has suggested using artificial intelligence to help analyze fraud cases, though legal safeguards would still be needed.
