Search Results for: bank fraud

While we are frequently discussing the sophisticated Digital Crimes, some times it is the simple crimes that pose a challenge to the system. One example of this is the report that appeared today in TOI about the busting of a … Continue reading →

It is unfortunate that some of the unpleasant prophesies of Naavi.org on increasing Card related frauds are becoming a reality. It is reported that Mumbai Police statistics show that in the first 9 months of 2015, Credit card frauds rose … Continue reading →

The credit card fraud reported in media today involving use of 580 fake cards created by fraudsters resulting in withdrawals of Rs 2.84 crores from Kotak Mahindra Bank is a lesson to all those men in Judicial positions who have … Continue reading →

Naavi has been arguing from a long time that Banks are vicariously liable for Cyber Crimes in which customers lose money. It is under this argument that in the S.Umashankar Vs ICICI Bank case, the adjudicator of Tamil Nadu held … Continue reading →

In an answer given in the Parliament, the IT Minister, (based on RBI records) has reported  the following information on Cyber Frauds in Banks. Year No of cases(Card and Internet Banking) Amount (Rs Cr) 2011-12 10048 38 2012-13 8765 68 … Continue reading →