Odisha DGP CB urges banks to take corrective measures to curb cyber frauds

Bhubaneswar, Sep 9 (UNI) Odisha Director General of Police, Crime Branch, Vinyatosh Mishra has urged banks to adopt urgent corrective measures to curb the rising menace of cyber crime in the state.
Addressing a workshop on Cyber Frauds in Odisha, held here yesterday, Mishra said mule accounts form the backbone of cyber fraud operations, and immediate corrective action from banks is crucial.

He advised bankers to extend full cooperation to law enforcement agencies to effectively tackle cyber fraud.
The DGP highlighted that the most reported frauds in Odisha include investment and trading scams, digital arrest scams, fake job and work-from-home offers, fraudulent websites and hotel bookings, and social media-related frauds.
Reserve Bank of India (RBI) Chief General Manager Puspamitra Sahu explained RBI’s proactive approach in combating cyber-enabled frauds and mule accounts .

She stressed strengthening the regulatory and supervisory framework, collaborating with state law enforcement agencies, and raising customer awareness on safe banking practices and fraud prevention.
RBI Deputy Legal Advisor Sankalp Tyagi elaborated on the nuances of the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019.

Odisha Development Commissioner Anu Garg emphasised that while digital innovation fosters efficiency and inclusion, there is an urgent need for sustained awareness programmes on cyber fraud risks and swift conviction of fraudsters as deterrent measures.

She advised stakeholders to take prompt preventive action, identify vulnerabilities, and plug systemic gaps.

Garg further underlined the importance of extensive awareness campaigns—both online and offline—to protect the public from Ponzi schemes and fraudulent entities.

The workshop was attended by senior officials from the Finance, Revenue and Disaster Management, Cooperation, and Law Departments, as well as representatives from the Police Commissionerate, Cyber Crime Wing, SEBI, and other stakeholders.