Risk Management Association of India
Global body dedicated to education, research and development on Risk Management
RMAI Risk Insights | 3 November 2026 The reported ₹500 crore cyber-fraud trail under investigation by Mumbai Police highlights a serious concern for India’s financial sector: criminals are increasingly exploiting the connections between bank accounts, digital payment platforms, financial intermediaries Read More …
Mashreq has launched new generative AI capabilities within its fraud management platform in collaboration with Clari5, a Perfios company, to strengthen fraud detection and financial-crime investigations. The new capabilities focus on three areas: improving fraud detection effectiveness, increasing analyst productivity Read More …
An RMAI Risk analysis of the Punjab National Bank Greater Noida fraud investigation, examining operational risk, fixed deposit controls, employee access, early warning indicators, concurrent audit and RBI’s 2026 fraud risk management framework. 1. What Happened at Punjab National Bank’s Read More …
Reserve Bank of India (RBI) Deputy Governor Swaminathan J has cautioned banks and other financial institutions against weakening internal controls in their pursuit of digital transformation, faster transactions and improved customer convenience. He emphasised that technological advancements, including artificial intelligence Read More …
A Hyderabad-based non-banking financial company (NBFC) has reportedly suffered a cyber fraud involving more than ₹3.3 crore, allegedly transferred from its bank account through 183 unauthorised transactions within just 87 minutes. The incident has raised serious concerns regarding application programming Read More …
Fraud risk in banking is no longer limited to forged loan documents or isolated employee misconduct. Digital transactions, complex borrower structures, mule accounts, manipulation of financial information and weaknesses in internal controls create multiple opportunities for fraudulent activities. For banks, Read More …
Rourkela police have arrested two men, aged 22 and 24, for allegedly procuring and supplying bank accounts to cyber fraudsters. According to the Times of India report, the accused allegedly lured individuals with promises of money and jobs to open Read More …
Covid-19 has forever changed the way consumers shop, creating a strong desire for digital payments and the rapid shift towards ecommerce. Recent data from Australia Post marked November 2021 as the largest month in Australian online shopping history, a significant Read More …
India and the United Kingdom have agreed to strengthen cooperation in telecommunications and explore the use of artificial intelligence to combat digital fraud, marking another step towards coordinated action against technology-enabled financial crime. The cooperation is aimed at using technology Read More …
The Central Bank of the United Arab Emirates (CBUAE) and Mastercard have completed a capability-building programme focused on strengthening national expertise in fraud risk management. The initiative highlights the growing importance of specialised fraud prevention capabilities as financial institutions face Read More …