Considering the inability of the customers to withstand organised electronic crimes, RBI has put in a place a framework for limiting the liability of customers in unauthorised electronic banking transactions as a customer protection measure.
I would invite market participants to keep our communication lines open to enable us to adjust our frameworks so that there is full clarity and no gaps in our regulatory perimeter. This Baltic AML Forum is therefore a great opportunity for us to hear each other out and, through common understanding, make progress.