India's Reserve Bank has announced a new initiative to combat digital payment fraud by introducing dedicated second-level domains: bank.in and fin.in. This initiative comes in response to significant concerns over increased instances of online fraud in the country. By moving all banks to the bank.in domain, the Reserve Bank aims to make it more difficult for scammers to create fake bank websites, thereby enhancing consumer trust in the financial services sector. Registration for these domains will begin in April, with the IDRBT as the sole registrar.
"This initiative aims to reduce cyber security threats and malicious activities like phishing; and streamline secure financial services," the Reserve Bank stated.
Moving all banks to bank.in could therefore make life harder for crooks by setting the expectation that only legitimate banks can get a bank.in domain.
India is aggressively digitizing government services and encouraging financial services providers to do likewise.
Registration for bank.in sites will commence in April, with the IDRBT serving as the sole registrar, ensuring a reliable registration process.
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