Search Results for: bank fraud

Understanding why Bank Frauds are increasing

Posted on June 12, 2022 by Vijayashankar Na

It was a great pleasure for me to read the article today written by Advocate Dr Mahendra Limaye of Nagpur highlighting the need to strengthen the recipient side process of digital payments. As many of the readers know, Naavi has … Continue reading →

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

Posted on October 7, 2018 by 98410spice

The recent fraud in which Rs 94 crores were siphoned off the Cosmos Bank system on August 11th and 13th through over 14800 ATM withdrawals has once again highlighted that for fraudsters it makes no difference if the money comes … Continue reading →

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Self Loans!… A New Dimension of Bank Frauds

Posted on March 4, 2018 by Vijayashankar Na

After the PNB Fraud in which over Rs  11400 crores are suspected to have been lost came to light, many other frauds are slowly tumbling out the closets of E Banking. Leaving aside the fact that the lenders of different … Continue reading →

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

Posted on July 7, 2017 by Vijayashankar Na

After waiting for more than 10 months and repeated reminders at all levels including the Finance Minister and the Prime Minister, RBI finally came out with its circular of 6th July 2017 titled “Customer Protection-Limited Liability in Unauthorized Electronic Banking … Continue reading →

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Limited Customer Liability on Bank Frauds.. Your Comments solicited by RBI

Posted on August 12, 2016 by Vijayashankar Na

In a long awaited but highly welcome move, RBI has released a “Draft Circular” for public comments on “Limited Liability” for customers in case of frauds in Internet Banking and Card transactions. Suggestions/comments, if any, on the Draft Circular may be … Continue reading →

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1710 Bank Frauds reported by Police..Does RBI have a count?

Posted on October 4, 2015 by Vijayashankar Na

Dr Triveni Singh, the additional Superintendent Lucknow is emerging as a “Super Cyber Crime Cop” of the country having resolved many individual and organized cyber crimes in the areas around Noida and NCR region of Delhi. Dr Tiveni Singh is an … Continue reading →

Posted in Cyber Law | 2 Comments