Search Results for: bank fraud

Don’t use ICICI Bank services for FASTag

After the use of FASTag was made mandatory for toll payments, several service providers came up with a proposal to provide the FASTag stickers including some banks. When the original date for introduction was set as December 15,2019, there was … Continue reading

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DAV Vs Indian Bank: Supreme Court considers Negligence of Bank and orders compensation

There have been so far many awards from Adjudicators in different statesĀ  in which Bankers have been held liable for frauds such as “Phishing”. Starting with the S Umshankar Vs ICICI Bank award in 2010, adjudicators in Mumbai, Gujarat, Telengana … Continue reading

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SIM hijacking vulnerabilities puncture Bank’s legal arguments

In all cases of Banking frauds involving “Unauthorized Access”, Banks have been putting across various arguments to shift the blame entirely on the customers. We had reported a recent incident where HDFC Bank had tried to bully a customer for … Continue reading

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How Banks Cheat in Limited Liability instances

At one time, Bankers were considered trusted individuals and respected in the community. But with the advent of technology, Bankers of the older generation receded into the background and technologists came into the Banking profession. Today Technologists have become Bankers … Continue reading

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A2H … Is this a new Insurance Fraud?

Today, I have received a new proposal on phone from a person representing A2H health services stating that he is speaking on behalf of Citi Bank and extending the service I am presently using with them. The details of the … Continue reading

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IDBI Bank held liable in Phishing Case a-la Umashankar Vs ICICI Bank

The adjudication complaint of S Umashankar Vs ICICI Bank was a historic case in which the Adjudicator of Tamil Nadu, Mr PWC Davidar held that ICICI Bank is liable for negligence despite the phishing mail having been answered by the … Continue reading

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