This content has been archived. It may no longer be relevant

Six banks, a mobile operator and a card company have been directed to pay compensation totalling over Rs. 1 crore to victims of online frauds.

The order was passed by the Maharashtra Principal Secretary for Information Technology, Rakesh Aggarwal. The Principal Secretary (IT) functions as the adjudicating officer on matters luch as online frauds, and is the equivalent of a cyber crime court at the State Government level.

The banks named in the order are Central Bank of India, Royal Bank of Scotland, Punjab National Bank, IndusInd Bank, Yes Bank, State Bank of India. The other institutions involved are Vodafone and SBI Card.

Under the Banking Codes and Standards Board of India, in the event of an online fraud, it is up to the bank to prove that the customer was either implicated in the crime, or was negligent about the security of his/her User ID and password.

Those who wish to file a complaint with the Adjudicating Officer under the IT Act have to pay an application fee of Rs. 50, plus an applicable fee based on the amount of compensation. The complaint has to be submitted in a specified format.

The complaints can be filed either before the Adjudicating Officer of the state where the complaint is made, or at the Cyber Crime Court.

Source: http://www.moneylife.in


Guide to approaching a consumer court

India's first practical guide to resolving your complaints by approaching consumer court. Guidance
Customer Complaint

Newsletter

Enter your email address to subscribe to our Newsletter.