System and method to access a channel on occurrence of a financial transaction fraud

A system to access a user access channel on occurrence of a financial transaction fraud, comprising:

• a processing subsystem, comprising:
• a registration module configured to register a user of a financial transaction system for accessing an allocated access channel;
• a retrieving module operatively coupled to the registration module, and configured to retrieve a plurality of criterion from the registered user to enable the allocated access channel;
• a transaction module operatively coupled to the retrieving module, and configured to validate authorization and authentication of the registered user and transaction request with respect to the allocated access channel;
• a processing module operatively coupled to the transaction module, wherein the processing module is configured to
• initialize a default state of the allocated access channel based on the validation of the plurality of criterion from the registered user;
• modify a default state of the allocated access
• channel based on the validation of the plurality of criterion from the registered user;
• a notification module operatively coupled to the processing module, and configured to notify the registered user about the modified state of the allocated access channel;
• and
• a memory subsystem operatively coupled to processing subsystem, and configured to store the plurality of criterion from the user corresponding to the allocated access channel.