The Reserve Bank of India has directed the banks to put in place a strong whistleblowing system as well as reward employees who help prevent cyber frauds.

“Appropriate mechanisms need to be established in banks…including transaction monitoring teams in banks and to investigate them (disputes or suspicions raised by stakeholders) thoroughly. Banks should have a well-publicised whistle-blowing mechanism,” RBI said.

This suggestion is part of the central bank’s guidelines on information security, electronic banking, technology risk management and cyber frauds. “A positive way of creating employee awareness is to reward employees who have gone beyond their call of duty, and prevent frauds. Awards may be given to employees who have done exemplary work in preventing frauds,” the RBI said.