Unrestricted banking data access fuels surge in online financial frauds: Central cyber intelligence agencies

NEW DELHI: A new disturbing trend has emerged posing a cyber security threat, as central cyber and intelligence agencies have flagged to the Union Ministry of Home Affairs (MHA) that unrestricted access to critical banking data with bank employees and third-party vendors has directly been fuelling rampant online frauds and massive financial losses for people in the country, officials said on Saturday.