Indian banks are getting a whole new domain to combat fraud
Posted by:
John Harrison
India’s Reserve Bank, RBI, is taking a proactive stance against the rising digital fraud in the country, by introducing new secure website domains – ‘.bank.in’ and ‘.fin.in’. Set to launch in April 2025, these domains aim to authenticate banking websites and combat fraudulent financial activities. The initiative includes strict controls with only IDRBT being the authorized registrar, ensuring users can differentiate between legitimate and fake websites. RBI Governor, Sanjay Malhotra, emphasized the necessity of addressing the surge in digital fraud and cyber threats, highlighting the importance of these new domains in enhancing online security measures. Customers are advised to remain vigilant against potential ‘typosquatting’ techniques used by fraudsters. The implementation of the Additional Factor of Authentication (AFA) for digital payments further highlights the collective effort required to tackle the growing challenges of online fraud in India. Stay tuned for detailed guidelines from RBI for utilizing the new domains.
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