RBI to set up fraud registry to check banking frauds: Executive Director

Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks

The Reserve Bank of India (RBI) is considering setting up a fraud registry to create a database of fraudulent websites and phone numbers with locations as part of its efforts to strengthen customer protection and check digital frauds.

Speaking with reporters, RBI Executive Director Anil Kumar Sharma on Monday said such a database shall help prevent fraudsters from repeating the fraud because such websites or phone numbers will be blacklisted.

"There is no definite timeline for setting up of the fraud registry. At present, we are talking to different stakeholders including different departments like payments and settlement and supervision of