Author Archives: Vijayashankar Na
ICICI Employee Arrested for 32 lakhs fraud
An ex employee of ICICI Bank has reportedly been arrested for duping one of the Canadian Customer, by name Pierre Courtat to the extent of Rs 32 lakhs. The customer held about 61451 Canadian dollars in an account which was … Continue reading
Bank alone should be liable on RTGS and Phishing Frauds
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
Yes Bank blames RPG group
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
RBI should Inspect Bank’s Subsidiaries
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
Problem of Near Field Communication in Credit Cards
It has been reported by BBC that in a Marks and Spencer outlet it was observed that when one customer was trying to swipe his card for payment, the POS recorded the transaction by picking up card data from another card which … Continue reading
Another Great E Banking Robbery Could destroy our Banking system
The recent Bank Fraud in Mumbai in which an amount of Rs 2.41 crores was transferred out of RPG group’s account with Yes Bank coming close on the heels of US$45 million Card fraud in USA should raise the concerns … Continue reading