‘After Jamtara, Many Mini Jamtaras Have Taken Place,’ Says Ex-NPCI Boss AP Hota

Federal Bank independent director and former National Payments Corporation of India (NPCI) MD and CEO AP Hota believes many digital banking frauds have taken place after Jamtara. Hota also highlighted the many fraud management tools that are already in place. "People tend to share passwords, knowingly or unknowingly. All steps are taken but people are people, they share passwords. Which bank has not put measures to protect passwords? There are many fraud management tools in place", said Hota in conversation with Aayush Ailawadi, Technology Editor & Presenter at the BT Banking & Economy Summi while discussing if there are enough security measures in place by the banking system to safeguard the customer against the rising instances of cyber frauds.