Purpose This paper aims to focus on the different types of insider-led cyber frauds that gained mainstream attention in recent large-scale fraud events involving prominent Indian banking institutions. In addition to identifying and classifying cyber fraud, the study maps them on a severity scale for optimal mitigation planning. Design/methodology/approach The methodology used for identification and classification is an analysis of a detailed literature review, a focus group discussion with risk and vigilance officers and cyber cell experts, as well as secondary data of cyber fraud losses. Through machine learning-based random forest, the authors predicted the future of insider-led cyber frauds in the Indian banking business and prioritized and predicted the same. The projected future reveals the dominance of a few specific cyber frauds, which will make it easier to develop a fraud mitigation model based on a victim-centric approach. Findings The paper concludes with a conceptual framework that can be used to ensure a sustainable cyber fraud mitigation ecosystem within the scope of the study. By using the findings of this research, policymakers and fraud investigators will be able to create a more robust environment for banks through timely detection of cyber fraud and prevent it appropriately before it happens. Research limitations/implications The study focuses on fraud, risk and mitigation from a victim-centric perspective and does not address it from the fraudster’s perspective. Data availability was a challenge. Banks are recommended to compile data that can be used for analysis both by themselves and other policymakers. Practical implications The structured, sustainable cyber fraud mitigation suggested in the study will provide an agile, quick, proactive, stakeholder-specific plan that helps to safeguard banks, employees, regulatory authorities, customers and the economy. It saves resources, cost and time for bank authorities and policymakers. The mitigation measures will also help improve the reputational status of the Indian banking business and prolong the banks’ sustenance. Originality/value The innovative cyber fraud mitigation approach contributes to the sustainability of a bank’s ecosystem quickly, proactively and effectively.

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In this paper focuses on affording a secured attestation and user-friendly mechanism to operate the closet. In spite of the availability of digital lockers hacking the lock code by an illegitimate person has become a plain-sailing task. Existing system electronic locks are available in the market based on password, RFID, wireless and IoT. Our proposed system, primary aim is towards to resolve the problems occurred in the safe locker security. We introduced more advanced and secure locker on multilevel attestation using Dactylogram, Passcode and OTP. (dactylogram used for human biometric more secure attestation then other attestation)