Search Results for: bank fraud

The Cosmos Bank fraud.. Could better security at NPCI have prevented it?

…Muscat Fraud was carried out in which about Rs 250 crores were fraudulently drawn out from the Bank through about 40000 ATM transactions carried out in 27 different countries in… Continue reading

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Union Bank and RSA Fiasco

…I pointed out that Union Bank which took over Corporation Bank and Andhra Bank had abandoned the earlier domain names of the two Banks. By doing so, and deciding not… Continue reading

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“Zero Liability” for Bank frauds… Customers need to take some precautions…

…the bank. In cases where the responsibility for the unauthorised electronic banking transaction lies neither with the bank nor with the customer, but lies elsewhere in the system and when… Continue reading

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NPCI and RBI cannot absolve themselves of responsibility in UPI Fraud

…the Core Banking software of Bank of Maharashtra is to blame or configuration of the Core Banking software was faulty. The Core Banking software of Bank of Maharashtra has been… Continue reading

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What is Negligence of the Customer under RBI’s circular on Limited Customer Liability?

…the same having represented many Cyber Crime victims in Banks against Banks such as ICICI Bank, PNB and Union Bank of India”. Other Banks will not be better since the… Continue reading

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DAV Vs Indian Bank: Supreme Court considers Negligence of Bank and orders compensation

…and point out the beneficiary of the fraud proceeds as the only culprits forgetting that without the assistance of the bank neither the amount could be fraudulently withdrawn from the… Continue reading

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