SC issues nationwide directions to tackle digital fraud, asks RBI to circulate SOP on mule accounts

The Supreme Court on Tuesday, August 4, asked the Reserve Bank of India to prepare and circulate a standard operating procedure (SOP) in four weeks to deal with bank accounts linked to cyber frauds, including mule accounts.The court observed that mechanisms to tackle cyber crimes needed “wider adoption, faster implementation and continued follow-up”.

Issuing a slew of nationwide directions aimed at strengthening the response to cyber-enabled financial frauds, a bench of 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.