Mumbai Consumer Court awards compensation in ATM fraud case

Maharashtra State Consumer Disputes Redressal Commission ordered Citibank to pay Rs 9.44 lakh to a man, after Rs 6 lakh wasfraudulently withdrawn from his account with an ATM card which he did not even possess.

In December 2006,Ratilal Israni a SB Account holder in Citi Bank noticed that between November 22, 2006 and December 5, 2006, Rs 6 lakh was shown as withdrawn using an ATM card. Israni contended that he never had an ATM card relating to his saving bank account. Israni alleged that it was a fraudulent act on the part of the bank officials to debit the account for the amount claimed to be withdrawn by using an ATM card.

Details in TOI

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About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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