Naavi
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IICA Qualified Independent Director
Book Cyber Crimes
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Search Results for: bank fraud
Negligence of Export Promotion Councils, ECGC and Banks lead to Rs 2.35 crore fraud
In what has now become a routine type of fraud, a tobacco exporter in Andhra has been defrauded to the extent of Rs 2.35 crtores. Naavi.org recalls its open letter to RBI and ECGC in its post on July 14, 2013 … Continue reading
Posted in Cyber Crime, RBI
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RBI mandates Bank liability for POS frauds
RBI had announced certain risk mitigation measures for Card Present transactions vide 22nd Sept 2011. Under this circular, it had been mandated that Banks should implement commercial readiness of acquiring infrastructure to support PIN based POS systems before June 30, … Continue reading
Posted in Bank, RBI
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AXIS Bank admits liability for ATM Fraud in Mumbai
It is reported that Axis Bank has agreed to refund the losses suffered by its customers in Mumbai who had lost about Rs 37 lakhs through the ATM card cloning fraud. It is good that Axis Bank has decided to … Continue reading
Posted in ITA 2008
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Bank Executive in Credit Card fraud
In a credit card cloning fraud in Hyderabad, an employee of HSBC call center has been arrested on charges of credit card cloning. The executive reportedly bought credit card data from a Nigerian and also used skimmers to collect more … Continue reading
Posted in Cyber Crime, ITA 2008
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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
Posted in Cyber Crime, ITA 2008, RBI
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Who is trying to hide Cyber Fraud scam in Indian Banks?
It has been pointed out that the answer given by the Government on the status of Bank frauds in India does not appear to contain correct information. It was pointed out that the figure of frauds for 2009 quoted in … Continue reading
Posted in Bank, Cyber Crime, RBI
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