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OM-5.1.2A

Conventional retail bank licensees must take appropriate measures to counter fraudulent phishing attempts (such as through telephone or WhatsApp calls, SMS or WhatsApp messages, emails and other media) that request customers to provide sensitive personal information that can lead to frauds. The licensees must also enhance their surveillance and monitoring systems to detect suspicious account activity caused by such fraudulent attempts on a timely basis.

Added: October 2020