Unauthorised Electronic Banking Transactions of ₹ 31.5 Lakhs

Unauthorised Electronic Banking Transactions of ₹ 31.5 Lakhs

  • After a hard day at office, the official SIM card of an accountant of a Car Dealer gets deactivated in the evening. Even after multiple restarts there is no signal. Suspecting no foul play, he decides to investigate into it the next morning.
  • When he registers a complaint with the cellular service provider, he comes to know that someone had submitted forged documents to get a duplicate sim card. Luckily the cellular service provider quickly restores his service. As soon as the cell phone starts receiving the signal, the accountant receives multiple messages for fund transfer via RTGS totaling to ₹ 31, 50,000/- that were successfully disbursed.
  • Panicked by the multiple SMS, the accountant tries to access his internet banking account by using the customer id and password. However, the net banking website shows that the password is incorrect. Evidently, the unscrupulous person had got unauthorized access to the internet banking account of the customer and he managed to get a duplicate sim card where the OTP were received for validating the transaction.
  • He immediately rushes to the bank and asks the officials to stop all the transfers only to know that cash was already withdrawn from few accounts where the funds were transferred. Fortunately, his timely intervention and Bank Official’s co-operation he manages to stop payment worth ₹ 20,00,000/-
  • Knowing only one vendor who could provide techno-legal expertise in this matter, the owner of the dealership calls up ANA Cyber Forensic Pvt. Ltd. for assistance.
  • A complaint is made on the official website of the bank on the immediate next day. Analysing the various RBI circulars, our cyber legal team drafts an official complaint letter to the Branch manager asking for crediting back the funds within 10 days for the balance amount of ₹ 11, 50,000.
  • Bank fails to respond within 10 days. So, we send one more letter including more legalities while looping in the top management of the bank. This triggered a response from the bank where they mentioned that they are still investigating and needed more time. When the bank failed to settle within 30 days of the complaint, we took up the matter with RBI Ombudsman.
  • Finally, the bank agreed to credit back the balance funds and continue their investigation. Our client receives back the entire amount that was fraudulently siphoned off from their bank accounts leading to a HAPPY DIWALI for all.

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