https://www.taxtmi.com/news?id=19727 Banks must implement strengthened SWIFT security and operational controls with compliance overseen by the Compliance Officer and regulator monitoring through inspections and enforcement. Prescribed measures were mandated within deadlines and an Expert Committee was formed to investigate fraud causes and recommend IT and audit interventions. Regulatory preventive measures include designation of red-flagged accounts, an online Central Fraud Registry, caution advices, re-verification of title deeds for large exposures, master circulars, mandatory audit and Board-level reporting, and supervisory review under a Risk Based Supervisory framework. en-us Tue, 13 Mar 2018 17:24:06 +0530 Tue, 13 Mar 2018 17:24:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19727 Banks must implement strengthened SWIFT security and operational controls with compliance overseen by the Compliance Officer and regulator monitoring through inspections and enforcement. Prescribed measures were mandated within deadlines and an Expert Committee was formed to investigate fraud causes and recommend IT and audit interventions. Regulatory preventive measures include designation of red-flagged accounts, an online Central Fraud Registry, caution advices, re-verification of title deeds for large exposures, master circulars, mandatory audit and Board-level reporting, and supervisory review under a Risk Based Supervisory framework. News - Tue, 13 Mar 2018 17:24:06 +0530 https://www.taxtmi.com/news?id=19727