Author Archives: Vijayashankar Na
Cyber Crime Insurance getting attention
Naavi has been highlighting the need for Indian Banks to obtain Cyber Crime Insurance as suggested by RBI in 2001 and ensure that customers are spared from the phishing liabilities. However Banks have been generally reluctant under the ground that … Continue reading
A Mule arrested in Mumbai for Phishing Fraud
Mumbai Police have arrested a person in Delhi and charged him for the phishing fraud in Bank of Maharashtra, Mumbai where a Cooperative Bank (Deccan Merchant Co operative bank)had lost Rs 1.5 crores. The arrested person is one of the … Continue reading
Plight of Cyber Crime Victims in Karnataka
The plight of Cyber Crime victims of Karnataka has been brought out in an article which appeared in New Indian Express Today. See the article here The article provides the background of the dispute which has also been explained in … Continue reading
AXIS Bank admits liability for ATM Fraud in Mumbai
It is reported that Axis Bank has agreed to refund the losses suffered by its customers in Mumbai who had lost about Rs 37 lakhs through the ATM card cloning fraud. It is good that Axis Bank has decided to … Continue reading
Data Breach Costs in India
A study by Symantec and Ponemon institute on “Cost of Data Breach Study: Global Analysis-2013” has provided some interesting insights into the efficacy of information security and consequences of data breach. The study covers data breach incidents which occurred in … Continue reading
Axis Bank will now has to eat its own words..
In the Adjudicator’s forum in Bangalore, Axis Bank has advanced a mischievous argument that Section 43 of ITA 2008 cannot be invoked by a Company. If this argument is given credence, no company can invoke any offences under Section 66 … Continue reading