Daily Archives: May 20, 2013

Bank alone should be liable on RTGS and Phishing Frauds

Posted on May 20, 2013 by Vijayashankar Na

I refer to an article in Business Standard today titled “Cyber frauds: Experts blame banks; banks find faults with clients”. One of the views expressed by a Banker is quoted as follows: “Earlier when internet banking was started, we thought … Continue reading →

Posted in Cyber Crime, ITA 2008, RBI | Leave a comment

Yes Bank blames RPG group

Posted on May 20, 2013 by Vijayashankar Na

According to this Article in ET today, Yes Bank has started blaming RPG Life Sciences for the Rs 2.41 crore fraud that has been reported to have been committed a few days back. Naavi.org has discussed several times the issue of the … Continue reading →

Posted in Cyber Crime, ITA 2008 | Leave a comment

RBI should Inspect Bank’s Subsidiaries

Posted on May 20, 2013 by Vijayashankar Na

The recent Banking frauds in India and abroad have indicated that the security breach not only occurs at the Bank (besides the customer) but more often at the outsourcing partner of the Bank. Whether the outsource partner is a big … Continue reading →