Search Results for: bank

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 →

Posted in Bank, Cyber Crime, Cyber Law, ITA 2008, Netizen's Forum, RBI | Leave a comment

Another Great E Banking Robbery Could destroy our Banking system

Posted on May 19, 2013 by Vijayashankar Na

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 →

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

Axis Bank Files Writ petition against Adjudicator of Karnataka

Posted on May 16, 2013 by Vijayashankar Na

In an interesting development in Bangalore, Axis Bank which is a business client of the Government of Karnataka for e Governance payment system management has filed a writ petition against the Principal Secretary IT and BT of the Government of … Continue reading →

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

Break the Back of Bank Frauds

Posted on May 13, 2013 by Vijayashankar Na

The Great E Bank Robbery in which US$ 45 million (Rs 250 crores) was drawn in cash in about 40000 fraudulent withdrawals spread over 12 and half hours on two different days, across 27 countries is an eye opener to … Continue reading →