New "cooling-off facility" could soon mitigate mule menace as govt, RBI seek to stay a step ahead of fraudsters

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The government and RBI are considering a ‘cooling off facility’ to temporarily block funds in bank accounts to combat online fraud through mule accounts. Enhanced KYC protocols and inactive account closures are also being explored as measures to prevent digital payment fraud.

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New "cooling-off facility" could soon mitigate mule menace as govt, RBI seek to stay a step ahead of fraudsters

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