Negligent Banks, Consumers Also Responsible

The rise in number of complaints about loss of money to fraudulent transactions is due to the negligence of both consumers and banks, says Dr Nagarathna, coordinator of Advanced Centre for Research, Development and Training in Cyber Laws and Forensics, National Law School of India University.

Even High Court judges and policemen have been victims of such frauds by crime rings, she said.

“Once partial information is accessed by the fraudsters, they send phishing mails to get the rest of the information from customers. There are also organised groups based in Russia that steal data used for transactions on phone and sell it back to fraudsters in India,” she said.

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