While encouraging customers to make use of Net banking facility, banks have started to voice their anxiety over rising Internet-related frauds.
For instance, State Bank of India recently issued a circular asking its branches “not to carry out any financial transactions requested by NRI customers through e-mail, even if the request is made by a letter scanned as an attachment.”
An official of the bank told
“Fraudsters apparently hack the email accounts of customers and send fake mails for transfer of funds to other accounts, which have been disowned by the NRI accountholders subsequently,” the official said.
When Business Line asked the RBI Deputy Governor K. C. Chakrabarty why the banking regulator did not come up with any instruction on Internet-related frauds, he said: “Any fraud is a fraud. The problem is there; but it is a law-and-order issue. This has to be dealt with differently. If something goes wrong because of our policy, we will look into it. This is an L&O issue.”