MUMBAI: In order to streamline reporting, support potency and automate the bills fraud control procedure, the RBI on Monday stated the fraud reporting module shall be migrated to DAKSH — the Reserve Bank’s complex supervisory tracking gadget — from January 1.
The RBI operationalized the Central Payments Fraud Information Registry (CPFIR) in March 2020 with reporting of fee frauds through scheduled industrial banks and non-bank Prepaid Payment Instrument (PPI) issuers.
“…entities shall commence reporting of payment frauds in DAKSH from this date (January 01, 2023),” the central financial institution stated in a round.
In addition to the present bulk add facility to record fee frauds, DAKSH supplies further functionalities, like a maker-checker facility, on-line screen-based reporting, an choice for inquiring for additional info, the ability to factor indicators/ advisories, era of dashboards and studies.
All RBI-authorized Payment System Operators (PSOs) / suppliers and fee gadget individuals running in India are required to record all fee frauds, together with tried incidents, without reference to price, both reported through their consumers or detected through the entities themselves, it added.
This reporting was once previous facilitated thru Electronic Data Submission Portal (EDSP) and is being migrated to DAKSH.
After going reside, fee fraud reporting in DAKSH efficient January 01, 2023, entities shall no longer have the ability to record any fee frauds in EDSP, the central financial institution stated.
The duty to publish the reported fee fraud transactions will be of the issuer financial institution/PPI issuer/bank card issuing NBFCs, whose issued fee tool has been used within the fraud,” the RBI stated.
The RBI operationalized the Central Payments Fraud Information Registry (CPFIR) in March 2020 with reporting of fee frauds through scheduled industrial banks and non-bank Prepaid Payment Instrument (PPI) issuers.
“…entities shall commence reporting of payment frauds in DAKSH from this date (January 01, 2023),” the central financial institution stated in a round.
In addition to the present bulk add facility to record fee frauds, DAKSH supplies further functionalities, like a maker-checker facility, on-line screen-based reporting, an choice for inquiring for additional info, the ability to factor indicators/ advisories, era of dashboards and studies.
All RBI-authorized Payment System Operators (PSOs) / suppliers and fee gadget individuals running in India are required to record all fee frauds, together with tried incidents, without reference to price, both reported through their consumers or detected through the entities themselves, it added.
This reporting was once previous facilitated thru Electronic Data Submission Portal (EDSP) and is being migrated to DAKSH.
After going reside, fee fraud reporting in DAKSH efficient January 01, 2023, entities shall no longer have the ability to record any fee frauds in EDSP, the central financial institution stated.
The duty to publish the reported fee fraud transactions will be of the issuer financial institution/PPI issuer/bank card issuing NBFCs, whose issued fee tool has been used within the fraud,” the RBI stated.