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of <h1>RBI Launches Central Fraud Registry to Combat ATM and Online Banking Frauds; Customers Shielded from Unauthorized Transactions.</h1> The Reserve Bank of India (RBI) has established a Central Fraud Registry to address ATM/Debit Card and Internet Banking frauds, with over 13,000 cases reported annually from 2014 to 2017 involving amounts of Rs. 1 lakh and above. Banks must report frauds to law enforcement, though centralized investigation outcomes are not maintained. RBI has issued a Cyber Security Framework and instructions for prepaid instrument issuers to enhance transaction security. Customers are protected from liability in unauthorized transactions due to bank negligence or third-party breaches if reported promptly. The Banking Ombudsman Scheme allows complaints against banks for non-compliance with RBI's electronic banking instructions.
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