Digital banking has opened up new opportunities for expansion and increased efficiency. While it has streamlined processes, it has also minimized dependence on physical paperwork and manual transactions. Through digital banking platforms, businesses can now offer various services such as account management, payment processing, and loan applications. This has resulted in operational effectiveness and broadened their customer base by facilitating access to customers across geographical borders. However, this system comes with its share of fraud, and one needs to be very careful while dealing with it. To take care of these risks, the Reserve Bank of India (RBI) has come out with some guidelines to uphold the safety and security of banking operations: