Court raps banks for laxity in cyber cases

The HC restores a businessman’s plea against IndusInd Bank alleging that nearly <2 crore was fraudulently siphoned from his account

- FPJ News Service

The Bombay High Court has pulled up banks for adopting an “improper attitude” of outright denial in cases involving siphoning of account holders’ money by cyber fraudsters, and directed them to adopt a more “sensitive approach” while handling such complaints.

A bench of Justices MS Sonak and Advait Sethna, on October 17, set aside a January 2021 decision of the banking ombudsman which had summarily dismissed a businessman’s complaint alleging that nearly Rs2 crore was fraudulently siphoned from his IndusInd Bank account.