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State Bank of Travancore (SBT) today said it has stopped facility of transfer of funds based on e-mail instruction from customer to prevent frauds.
Frauds in transfer of money, based on e-mails have been on the increase recently.
In order to protect depositors’ money and to prevent frauds, the facility of transfer of funds based on e-mail instructions from customers has been stopped henceforth, a bank press release said.
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