The Ministry of Finance, (MoF) on March 18, 2025, issued a notification stating initiatives to Strengthen Cyber Security in Financial Transactions.
The Government, in collaboration with RBI, NPCI, and other stakeholders, is actively enhancing cybersecurity in financial transactions. The Ministry of Home Affairs (MHA) established the Indian Cyber Crime Coordination Centre (I4C) and launched the National Cyber Crime Reporting Portal for reporting cybercrimes. A dedicated Citizen Financial Cyber Fraud Reporting System has saved approximately ₹4386 Crore from 13.36 lakh complaints.
RBI has issued Digital Payment Security Controls guidelines and launched the AI-based tool 'MuleHunter' to identify fraudulent transactions. NPCI has implemented device binding, two-factor authentication, transaction limits, and AI/ML-based fraud monitoring systems for UPI security. Awareness campaigns are also conducted to educate the public on preventing cybercrimes.
[Release ID: 2112323]
