Central Bank Mandates 24/7 Rapid Response Officers to Thwart Festive Cyber Scams

To curb the rising tide of digital financial frauds during the prolonged festive holidays, the Nepal Rastra Bank (NRB) has directed all licensed banks and financial institutions to appoint a dedicated, round-the-clock 'Focal Person'. This proactive measure aims to ensure instant coordination between the banking sector and law enforcement agencies to intercept cyber crimes during Dashain, Tihar, and Chhath.

Through a circular issued on Ashoj 27, the central bank’s Bank and Financial Institution Regulation Department instructed all 'A', 'B', and 'C' class financial institutions to immediately establish this rapid-response mechanism. Under the new mandate, banks are required to forward the designated liaison officer’s name, designation, direct mobile number, and a 24/7 actively monitored duty email address directly to the Nepal Police Headquarters via their official coordination email ([email protected]).

The core operational responsibility of these focal persons will be to eliminate the administrative delays that typically occur during public holidays. They are mandated to work closely with the police to provide real-time transaction details, swiftly identify suspicious accounts, and instantly freeze compromised funds. The NRB expects this seamless, real-time collaboration to empower authorities to launch immediate investigations and intercept illicit fund transfers before the money can be withdrawn or layered across multiple accounts.

This regulatory intervention by the central bank represents a critical evolution in Nepal’s financial cybersecurity framework. Historically, cybercriminals and scammers have strategically timed their phishing attacks, OTP frauds, and digital heists during extended national holidays. Their modus operandi relies heavily on the fact that physical banking operations are closed, leaving victims and police helpless as they wait for normal working hours to freeze compromised accounts or trace stolen funds.

By mandating a 24-hour operational bridge between banks and the Nepal Police, the NRB is actively neutralizing the scammers' biggest advantage: time. During the festive season, the volume of digital transactions, online shopping, and mobile money transfers surges exponentially, naturally increasing the attack surface for financial fraud. This new directive ensures that the financial system's defense mechanisms do not go on vacation, thereby providing a much-needed safety net for digital consumers and significantly boosting the efficacy of cybercrime investigations.