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Banks return to physical verifications as frauds bite hard
The Economic Timesยท 2025-12-12 00:30
This is a U turn of sorts for banks that were digitising almost every service possible, simplifying operations into a single-click. But the challenge of mule accounts and fraud attacks are forcing them to introduce physical checks into their digital onboarding processes.Lenders such as HDFC Bank, State Bank of India, Also Read: Financial fraudsters turning business accounts into mules for illicit fund transfersThe tightening of processes could also be related to the Reserve Bank of India imposing fines on b ...