Civil society forum writes to RBI governor Shaktikanta Das seeking information security auditors system for banks

A civil society forum in India has called on the Reserve Bank of India (RBI) to introduce an information security (IS) audit system for banks in order to prevent online bank frauds. The forum has requested the appointment of independent IS auditors to investigate all banks with mobile banking apps. It has also asked the RBI to instruct banks to investigate the operations of business correspondents to detect malpractices, such as substitution of biometric details of customers during account openings. The forum argues that rampant bank frauds are occurring due to the drive to onboard customers on mobile banking apps.