Risk Management Association of India
Global body dedicated to education, research and development on Risk Management
According to the Ministry of Finance of the Government of India, in FY 2022-23, there were 95,000 cases of UPI fraud, which is an increase from 84,000 noted in FY 2021-22. This data, thus, underlines the importance of protective measures against Read More …
Fraud is moving online. In 2021, when most people were stuck inside because of the pandemic, the Federal Trade Commission (FTC) reported a 70% increase in consumer fraud reports compared to 2020. Consumers lost a total of $5.8 billion to mostly impostor scams and Read More …
With the advancement of technology, digitisation has taken a central spot in the payment landscape. Digital payments are omnipresent in today’s interconnected world and have made transactions faster and simpler. This paradigm shift has revolutionised e-commerce and trade. The immense Read More …
Digital payments have revolutionised ecommerce and trade. The payment processes have become faster and simpler. In a country like India, there was significant scepticism surrounding the security and acceptance of digital payments, but such factors have been addressed through robust Read More …
While advanced security systems managed to prevent a further £736 million from being taken, it does raise questions about what other preventative measures banks should be putting in place to further protect their customers. When blockchain technology is spoken about, Read More …
‘It won’t happen to us’ – the famous last words of every business without an effective fraud risk management strategy in place. It may seem unbelievable, but many businesses still have this attitude. It is imperative that business owners learn the reality Read More …
With the news of harassment of customers by digital lenders becoming frequent – in some cases the harassed borrowers even committing suicide – the Reserve Bank of India (RBI) has decided to issue stringent guidelines to put an end to Read More …
Our everyday routines are changing, and taking care of our finances is no exception. Due to the popularity of cashless and contactless payments, internet banking, and buy now, pay later (BNPL) services, the days of visiting a branch for basic Read More …
The legacy of the Covid-19 pandemic, a global lack of goods and materials, and Russia’s war in Ukraine have each combined to produce a cocktail of economic woes that is proving hard to swallow. Add to this underlying anxiety regarding Read More …
The hacker stole ₹7.3 crore over three months by manipulating the authorisation process of the payment gateway company to authenticate 831 failed transactions The South East cyber crime police are trying to track down a hacker who stole ₹7.3 crore Read More …