Payment fraud registry to alter the way customers take to digital channels

Part of the problem is the manner in which eco-system participants on-board and service customers

In late July, Preneet Kaur — a Member of Parliament from Punjab — fell prey to a payment fraud. Posing as a State Bank of India manager, a scamster obtained her bank details over the phone from Jamtara in Jharkhand to swindle her of Rs 23 lakh. Given her high profile, the Punjab Police swung into action and arrested the perpetrator and recovered the money. 

Scores — from senior citizens to the uneducated — are not so lucky. They have to run from pillar to post to get a police complaint registered and later get hold of their hard-earned money.