Cyber Fraud Cases : Supreme Court Steps In , Asks RBI To Prepare Circulate SOP For Dealing With Bank Accounts

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The Supreme Court has  asked the Reserve Bank of India to prepare and circulate a standard operating procedure (SOP) for dealing with bank accounts linked to cyber frauds, including mule accounts.

Issuing a slew of directions aimed at strengthening the response to cyber-enabled financial frauds, a bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and V Mohana directed all states, Union Territories (UTs) and law enforcement agencies to ensure the expeditious adoption and operationalisation of the grievance redressal and money restoration modules developed for victims of such frauds.

The bench was hearing a suo motu matter ‘In Re: Victims of Digital Arrest Related to Forged Documents’.

The bench also directed the RBI to provide copies of the SOP to the Registrars General of all high courts. It also asked states and UTs to undertake appropriate public awareness measures to ensure that citizens are informed about these mechanisms.

The Registrars General of all high courts were directed to apprise courts about the grievance redressal and money restoration modules so that victims are made aware of the available remedies.