Search Results for: bank fraud

Karnataka High Court delivers a favourable verdict for Axis Bank

Posted on June 11, 2013 by Vijayashankar Na

P.S: Karnataka High Court has given a decision on 27th May 2013 in a writ petition filed by Axis Bank which has a huge implication on Cyber Crime victims in Karnataka and elsewhere in India. Hence in the general public … Continue reading →

Posted in Bank, Cyber Crime, Cyber Law, ITA 2008, Uncategorized | Leave a comment

Safe E Banking- Some initiatives that calls for attention

Posted on June 8, 2013 by Vijayashankar Na

Naavi has been following the developments in the Indian Banking scenario for the last 4 decades and has closely been associated with the industry as an employee of the Banking industry as well as a consultant and critique. In the … Continue reading →

Posted in Bank, RBI, Uncategorized | Leave a comment

Punjab National Bank Customers at Special Risk

Posted on May 25, 2013 by Vijayashankar Na

A client of Punjab National Bank in Chennai has reported that the Bank has suspended sending of SMS alerts for Internet Banking transactions as is required under RBI guidelines. The reason is reported to be some malfunctioning of some software. … Continue reading →

Posted in Cyber Law | Leave a comment

ICICI Employee Arrested for 32 lakhs fraud

Posted on May 22, 2013 by Vijayashankar Na

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 →

Posted in Bank, ITA 2008 | 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 →