Preventing Credit and Debit card frauds

Banking has come a long way from old times, Now we can access our bank accounts from Internet, ATM machines and even from our mobile phones. Along with it, usage of plastic money has also increased dramatically.

Most of us nowadays are using Credit and Debit cards for various purposes, from shopping to paying bills.

However, most of us are still concerned about the risks involved in these new-age banking channels. Read this excellent article on Economic Times to help you in securing your credit and debit cards and what to do in case of frauds.

SBI employee dupes customers

A complaint was lodged by SBI and at least 127 customers against a SBI employee in Bhavnagar district's Talaja branch on Sunday with cheating, forgery, breach of trust .

The complaints said Mahedrasinh R Sarvaiya employed with SBI, duped them of 97 lakh for past many years. He would collect life savings from them but never deposited in their bank accounts.

The amount will probably go up as more people will come forward.

Moral of the story is never trust anyone with your money. Manage your money yourself, don't be dependent on anyone and everyone to do the daily chores of your bank.

RBI mail address hijacked by phishers

In what is being described as an online shock for the Reserve Bank of India, cyber fraudsters masquerading as officials of the country's apex bank have started sending fraud emails to unsuspecting citizens seeking their banking details.

The fraud came to light after several people reported having received a mail from the address update@rbi.org.in with the subject 'Important notice to all bank customers in India'. "Dear Account Holder, the Reserve Bank of India has introduced a new security update against online phishing in India. Download the attachment, select the bank you operate and update your account against online

RBI has issued an advisory warning against responding to any such mails. Those who have revealed their account numbers in response to the mail should immediately alert their respective bank.

Bank to compensate in online fraud

Taking cognisance of misuse of technology in committing fraud, Punjab National Bank has been directed by the Banking Ombudsman to refund over Rs.7 lakh with interest to a victim.

In its recent directive, the Banking Ombudsman has asked the nationalised bank to put in place strict measures to check such illegal activities.

The curious case of phishing involves a senior manager with Dabur India Ltd, Sahibabad, who lost about Rs 8 lakh in the fraud. Read the rest of the post here.

Britsh woman files complain after being duped

A British national has moved the Bombay High Court alleging fraud by a Colaba family. Pamela Bromley, 66, has alleged that the family of Anju Thakur duped her of Rs. 2 crore under the pretext of helping her buy property in Mumbai. Bromley has moved court against six members of the family.

Bromley met Colaba-resident Anju Thakur in 1995 during a Yoga camp in Gujarat. As per Bromley’s petition, she would often stay at the Thakur house during her visits to India.

Bromley’s petition states that between 2000 and 2004 she transferred money for the purchase of a flat in the same building, and other items such as paintings, crystal Buddha and crystal artifacts. The funds from England banks were transferred to the accounts of Anju, her brother Arvind and sister Manu.