Search Results for: bank fraud

Bankers try to mislead credit card customers

Posted on February 7, 2013 by Vijayashankar Na

Earlier in the day today, Times of India first reported the arrest of 5 Indians in USA in connection with the US$ 200 million credit card fraud. Immediately thereafter there was a second report in TOI itself attributing the growth … Continue reading →

Posted in Bank, Cyber Crime, Cyber Law, Information Assurance | Leave a comment

5 Indians in US$ 200 million Credit Card fraud

Posted on February 7, 2013 by Vijayashankar Na

5 Indians are amongst the persons charged in US in a massive credit card fraud said to involve US $ 200 million loss to various credit card holders. Details in TOI Among those charged are Babar Quereshi (59), Ijaz Butt … Continue reading →

Posted in Cyber Crime, ITA 2008 | Leave a comment

Mumbai Consumer Court awards compensation in ATM fraud case

Posted on February 2, 2013 by Vijayashankar Na

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Consumer Disputes Redressal Commission ordered Citibank to pay Rs 9.44 lakh to a man, after Rs 6 lakh wasfraudulently withdrawn from his account with an ATM card which he did not even possess.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

Posted in Bank, Cyber Crime, Uncategorized | Leave a comment

Donot link Aadhar to your Bank account

Posted on January 22, 2013 by Vijayashankar Na

I observed during the Aadhar registration process in Bangalore that by default the registrar was encouraging registrants to link their Bank accounts to the Aadhar application. Risk associated with such process has been highlighted by the fraud reported in Midday … Continue reading →

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

Indian Loan Fraudsters swindle UK clients

Posted on January 14, 2013 by Vijayashankar Na

An Indian Call center in Delhi is reported to have made nearly 1000 calls every day to UK clients enticing them with Bank loan offers and extracting money in the form of advance fee. A ‘conservative estimate’ of the loss … Continue reading →

Posted in Cyber Crime, Cyber Law, Information Assurance | Leave a comment

Banks Should Report Data Breach Incidents

Posted on December 19, 2012 by Vijayashankar Na

European Union is considering mandatory data breach notification by Banks and other critical infrastructure services. A draft proposal to this effect is under consideration. At present one of the hindrances to Cyber Crime Insurance is the lack of adequate information … Continue reading →