IDFC First Bank tightens high value transaction controls; forensic findings due in 4–5 weeks

Instead of relying solely on telephonic verification, the bank will trigger an alert on the customer’s registered mobile app, requiring them to log in and digitally approve the transaction within a stipulated time window before it is processed. The lender described the move as an “extra control” to strengthen safeguards around large-value transactions and reduce the scope for unauthorised activity at the branch level.“We will implement an explicit system based on confirmation for high-value, branch-based t ...