Frauds through online transactions.

Internet frauds through debit/credit cards or net banking or the like facilities should be prioritised for settlement. Whereas the Govt. stresses importance of transactions by transparency, it does very little to settle claims and whereas the RBI notifies several guidelines for safe transactions and claim settlements, bankers do not bother to implement these notifications.
Consumer forum processes these claims like a court, though the publicity is otherwise.
I have yet to experience the Grahak Panchayats.
A Police complaint should be sufficient evidence of a fraud. If found false, the consequences are dire. Is this complaint not enough evidence of a fraud?
If so, the bank has every legal opportunity to recover the loss by fraud. Then why should the consumer wait for the recovery process?
Every consumer suffers on account of frauds. Why should the Govt. not intervene? more

Helpful Connected Consumers Nov 07

Viewed by 2156

View all 23 comments Below 23 comments

Devendra Kumar Mishra

now only consumer court can help you bank will not listen you more

Nov 17

David James

Yes, very true. Particularly with the push for going digital by Govt, fraudulent operations are also growing up. However much safety precautions may be built-in into the systems, hackers always find a loop hole somewhere and siphon off funds or data and other personal info from innocent people. May be we could look in different direction, instead of blaming or cursing existing faults, we may focus on age old concept of 'Prevention is better than cure'! I have been using online transactions ever since it came into being. Luckily did not have any bad experience till now. Just following some basic rules, that's all. It is not possible to expect everyone new to have good understanding of these basic rules. We all learn by experience. And every day new people are joining digital bandwagon in numbers. May be for those, some alternatives may help. One is BHIM. This is developed by a Government Unit, National Payments Corporation of India. Once this is installed and set to connect to your Bank, it can be used fairly simply. Usage of this App, does not reveal any identity of user or Bank details or other personal or financial details of any sort. Besides it has 2 sets of PINs or passwords. Almost all eCommerce sites accept payments through BHIM, besides you can freely transfer and receive funds to/from your friends, relatives and others. Also buy anything from your neighborhood shops as long as they too use BHIM. I am using this for quite sometime and personally feel that this takes off many problems in digital fund transfer. You know very well to whom you are paying to and how much and receiver just gets the funds and is totally unaware of how you have sent or through which Bank etc. And it is instantaneous. There are several alternatives to BHIM from private parties including some large Organisations! I strongly suggest to avoid private sources as possibility of private sources pulling out lots info from our handsets do exist. People may try this and will certainly like its simplicity. In case anyone desires how to set up, they may post a request and I will be happy to assist. I am in no way connected with BHIM development or developers and just an ordinary user. more

Nov 15

Ranjit Biswas

It has become a fashion now a days to blame the banks for each and everything if the things do not shape according to our wills and expectations! In the event of such crimes & frauds, do we ever review the faults which might have occurred on our part? The Banks' rules say that no one should share the details of the bank accounts, Ids & passwords to any one under any circumstances but many of us are easily trapped by the fraudsters over phones citing one or other reasons & alluring with undue financial benefits and share such information resulting in frauds. How many of us change the ATM PINs, accounts' passwords frequently & at periodical intervals, as suggested by the banks? In general, we do not follow such suggestions & instructions but in the event of any incident causing loss to us, we put the banks at dock first and expect them to make the loss good immediately on demand, which, in my opinion, is not justified. How a Police complaint could be taken as the final witness to prove a bank fraud thinking that the complainant must be honest, as otherwise, he has to face the dire consequences, is not clear, which may be clarified. more

Nov 12

Sivakumar Iyer

https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=11040 RBI has issued detailed guidelines on this. Please go through this. Trust this will be useful. more

Nov 10

Gopabandhu Mohapatra

Cyber crimes are increasing and the protection is not available, more particularly the Police is harassing in accepting any complaint. more

Nov 09

View 23 more comment(s)