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Economy 1 min read

Supreme Court Directs RBI to Frame SOP on Mule Accounts to Curb Digital Arrest Scams

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To combat the rising wave of digital arrest scams, the Supreme Court directed the Reserve Bank of India (RBI) to prepare, within four weeks, a standard operating procedure (SOP) for handling mule bank accounts used to launder cyber-fraud proceeds. It also ordered nationwide adoption of e-Zero FIRs and victim compensation frameworks. The court asked the Centre to study the feasibility of a shared liability and compensation scheme for victims. The directions followed the fourth status report filed by the Indian Cyber Crime Coordination Centre (I4C) of the Union Home Ministry.