Nepal launches 24 hour centre to stop online financial fraud

The government of Nepal is launching a round-the-clock cyber response centre to combat financial fraud involving digital banking, mobile wallets, and social media.

The Integrated Anti-Cyber Scam Response Centre will operate at the Nepal Police Cyber Bureau in Samakhusi. Representatives from the Nepal Police, Nepal Rastra Bank, commercial banks, telecommunications companies, and internet service providers will work together in one location to trace stolen funds and dismantle fraud networks.

The centre aims to eliminate delays caused by slow coordination between different agencies. Under the new workflow, officials must enter complaints into a case management system within ten minutes of receipt. Within 30 minutes, bank and payment service representatives are expected to identify beneficiary accounts and trace the movement of funds. Between 10 and 60 minutes, the centre will request that providers freeze accounts and deactivate mobile numbers, SIM cards, and phishing domains used by scammers.

A total of 114 personnel will work in three shifts to manage the centre. This includes 33 members from the Nepal Police and 60 representatives from 20 Class A commercial banks. The initiative seeks to prevent stolen money from leaving the financial system before fraudsters can withdraw it. While the private technology sector welcomes the faster information sharing, some leaders note that the centre is a first step and will not eliminate cyber fraud overnight.