Here are some pointers that could be of use for all..............
Online Banking Scams: Are you a victim?
If you are a victim of an online credit card scam, then you can seek
redress and relief under cyber laws. In the recent judgment of December
2014 by Adjudicating Officer, Information Technology Act, 2000 in the case
of Bal Kishen Rai.v. PNB & Ors., the Court held , that even if a victim
divulges his own password by mistake in a phishing scam to a
cyber-criminal, in case on internet banking, he is still protected by law,
and in the light of the Indian Banker’s Code 2014 read along with recent
RBI Guidelines and the principles of the US Banker’s Code, in cases of
Internet Banking Frauds and Credit Card frauds a victim’s liability is
restricted to Rs. 10,000 only and the loss has to be borne by the Bank.
This is a principle of US Internet Banking Law which in this landmark
judgment for the first time has laid the foundation of Indian Internet
Banking Liability which is pro-consumers and completely protects their
interests in cyber-crimes.
Meaning of Online Banking Scams:
Where your bank account is debited by an unauthorized online
Where your credit card has been used without your authorization for
Where you have given your transaction password to a scammer in response
to a Phishing scam, which means you receive an email which resembles an
email from a bank asking for your bank account details.
Where you have divulged your OTP in a Vishing scam. A vishing scam is
one where a person personates a banking official and contacts you to obtain
your credit card information on the pretext of generating a new PIN for
you, and in the process undertakes online transactions using your credit
card data and cheats you into divulging your OTP so that he can complete
Where a cyber-criminal uses a duplicate SIM card of your registered
mobile number, and using your credit card data and due to duplicate SIM has
access to OTP also.
Where your SIM card is cloned. SIM card cloning can happen in hotels,
shops and any place where you use your credit card for a transaction, and
your credit card data is stolen and a cloned credit card is made.
If you are a victim of Online Banking, then you have legal recourse under
the provisions of Section 43 of the Information Technology Act, 2000 which
deals with Unauthorized Access along with legal recourse against the Bank
under Section 43A of the Information Technology Act for failure to protect
your sensitive information and passwords, with claim for compensation up to
Rs. 5 Crores.
A victim can file a complaint of the cyber-crime in the prescribed format
before the Adjudicating Officer, Information Technology Act, 2000 with the
prescribed application fees of Rs.50 and requisite court fees. The duration
for the disposal of cyber law matters is speedy and is within 6 to 9 months
of filing the complaint.