India dedicates domain name extensions to banks

The Reserve Bank of India has just signed a new initiative to further improve the security of online financial services offered by its institutions. It chose to create new domain extensions dedicated exclusively to financial institutions and banks. The goal? Fight online fraud and ensure the security of bank customers.

FACTS

• The Reserve Bank of India has therefore announced its intention to build confidence in the financial sector through bank.in and fin.in domain name extensions.

• The first is as its name indicates for the banks of the country, while the second is more broadly addressed to Indian financial institutions.

• The RBI decision is justified by a finding that there has been an increase in cases of fraud in payments and digital transactions, which is now a major concern for the country's institutions.

• The Institute for Development and Research in Banking & Technology (IDRBT) will act as an exclusive registrar. The recordings will begin in April 2025.

ISSUES

• Fighting fraud : The explosion of online fraud concerns in particular the usurpation of domains which consists of imitating the name of a website or email address in order to replace them with malicious or unsecured websites. Proposing a specific domain name for financial institutions is thus a way to circumvent this growing risk.

• Clarify interactions : Domain usurpation is now considered to be a method widely used by fraudsters. This RBI initiative aims to reduce cybersecurity threats and malicious activities such as phishing, clarifying access to the right online addresses for end customers.

PERSPECTIVE

• The issue of assigning a particular domain to financial institutions around the world had already been raised. It is the Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit private law organization, which proposed to launch the .bank domain extension, offering financial institutions around the world the opportunity to adopt this extension to enhance security and online confidence.

• The .bank top-level domain extensions were introduced in 2015 by fTLD Registry Services, a company operating under the supervision of ICANN.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate