Get Justice for Online Banking Fraud
Did you know that there is something called Cyber Court where you can complain about online banking frauds and get justice?
 
Nitesh Gupta, a chartered accountant, was having  a quiet dinner with his wife at a restaurant sometime in June 2013. He had just opened the menu when he got a text message that said Rs44,000 was withdrawn from his account via an ATM. Later that year, Sharad Vishwanath Sahasrabuddhe found that Rs3.36 lakh was fraudulently withdrawn from his account via net-banking. He approached the police after the bank failed to act on his complaint. Dozens of such cases are reported every day. But, in all such cases, the customer is blamed for not keeping the PIN and other details secure. Banks act as if they are blameless; customers have no recourse to anyone.
 
Not anymore. Consider this. In January 2015, Maharashtra’s principal secretary (IT), Rajesh Aggarwal, directed Bank of Maharashtra, Andhra Bank, Karur Vysya Bank and Ideal Cellular to collectively pay Rs25.12 lakh compensation to a Pune-based partnership firm for failing to provide basic due diligence and security to customer, resulting in a phishing case. The fraudsters changed the mobile SIM of the firm's accountant and transferred money to three accounts with Axis Bank at Chandigarh (Rs4 lakh), Andhra Bank (Rs23 lakh) and Karur Vysya Bank (Rs12.50 lakh), both at Meerut. While the account-holder in Chandigarh returned the money to the firm, Rs13 lakh and Rs12.12 lakh were withdrawn by non-traceable account-holders from Andhra Bank and Karur Vysya Bank, respectively. 
 
While online banking is spreading fast, frauds have also galloped; so much so that, during 2014,India ranked third, after Japan and the US, among countries most affected by online banking malware, according to a report from ASSOCHAM-Mahindra SCG. 
 
Customers duped in online frauds, often find that no easy remedy is available. This, despite the Banking Codes and Standards Board of India (BCSBI) making it clear that, in electronic fraud, the onus of proving that the customer participated in the fraud or compromised the user ID and password will shift to the bank.
 
However, people duped in online frauds, can now use the Cyber Crime Court to get speedy justice. It is important for everyone to know about this Court and its jurisdiction. The Information Technology Act, 2000, (the Act) specifies the actions ,which are punishable under the Act. Under the Act, the state IT Secretary is the adjudicating officer who decides matters in which the claim for damage does not exceed Rs5 crore. You have to file your complaint in a specified format before the adjudicating officer (AO).
 
The AO has the powers of a civil court, which are conferred on the Cyber Appellate Tribunal under sub-section(2) of Section 58. In addition, all proceedings before the AO are deemed to be judicial proceedings within the meaning of Sections 193 and 228 of the Indian Penal Code (IPC) and to be a civil court for the purposes of Sections 345 and 346 of the Code of Criminal Procedure (Cr PC), 1973. There is a proforma for filing complaint that can be downloaded from http://tinyurl.com/n6fxreh
 
In Maharashtra, the complaint has to be submitted to the Officer, c/o Directorate of Information Technology, 7th Floor, Mantralaya, Madam Cama Road, Hutatma Rajguru Chowk, Nariman Point, Mumbai – 400021. The IT Act is a Central Act. So, all states should have similar arrangements and you can make a complaint before the AO or the Cyber Crime Court in your state.

User

IS terrorist threatens to kill two Japanese hostages

The terrorist, in a video, says that the $200 million ransom demand is to compensate for non-military aid that Japanese Prime Minister Shinzo Abe pledged to support countries affected by the campaign against IS

 

The Islamic State (IS) group had threatened to kill two Japanese hostages unless it receives a $200 million ransom within 72 hours. However, Japan on Tuesday vowed it would not give in to terrorism. 
 
“Our country’s stance – contributing to the fight against terrorism without giving in – remains unchanged,” chief government spokesman Yoshihide Suga told a news conference in Tokyo.
 
IS has murdered five Western hostages since August last year, but it is the first time that the jihadist group – which has seized swathes of Syria and neighbouring Iraq – has threatened Japanese captives.
 
In footage posted on jihadist websites, a black-clad militant brandishing a knife addresses the camera in English, standing between two hostages wearing orange jumpsuits.
 
“You now have 72 hours to pressure your government into making a wise decision by paying the $200 million to save the lives of your citizens,” he says.
 
The terrorist says that the ransom demand is to compensate for non-military aid that Prime Minister Shinzo Abe pledged to support countries affected by the campaign against IS during an ongoing Middle East tour that on Tuesday saw him in Jerusalem.
 
But the Japanese government said it would not bow to extremism.
 
An official in the foreign ministry’s terrorism prevention division had said earlier that the government was investigating the threat and the authenticity of the video.
 
Since August, IS has murdered three Americans and two Britons, posting grisly video footage of their executions.
 
US journalists James Foley and Steven Sotloff, American aid worker Peter Kassig and British aid workers Alan Henning and David Haines were all beheaded.
 
The militant who appeared in the video threatening the Japanese hostages spoke with a very similar southern English accent to the militant who appeared in the footage posted of the executions of the Britons and Americans.
 
Abe, who was due to give a Jerusalem new conference at 0800 GMT, pledged a total of $2.5 billion in humanitarian and development aid for the Middle East on the first leg of his tour in Cairo on Saturday.
 
He promised $200 million in non-military assistance for countries affected by the Islamic State (IS) group’s bloody expansion in Iraq and Syria, which spurred an exodus of refugees to neighbouring countries.
 
The first hostage – Kenji Goto – is a freelance journalist who set up a video production company, named Independent Press in Tokyo in 1996, feeding video documentaries on the Middle East and other regions to Japanese television networks, including public broadcaster NHK.
 
The second hostage appeared in previous footage posted last August in which he identified himself as Haruna Yukawa and was shown being roughly interrogated by his captors.
 

User

Govt discusses Ordinance issue after President’s snub
Senior minister in the Modi government discussed issues involving procedures to be followed for replacing Ordinances with Bills and the preparatory measures in the upcoming Budget session of the Parliament
 
Senior ministers from the Narendra Modi cabinet met on Tuesday to discuss how to ensure that the Ordinances issued recently are followed up with legislative action in the upcoming Budget session next month. This follows an objection raised by President Pranab Mukherjee on the ‘Ordinance route’. 
 
The meeting called by Parliamentary Affairs Minister M Venkaiah Naidu and attended by Home Minister Rajnath Singh, Finance Minister Arun Jaitley, and six others deliberated upon the implications that some sectors such as coal will have if the Ordinances are not followed up by passage of bills in Parliament.
 
The Government has issued at least eight Ordinances, including one on raising the FDI limit in the insurance sector to 49% from 26% and the e-auction of coal mines.
 
The meeting significantly took place a day after the President voiced his objection to the ‘Ordinance route’ used by the Government and cautioned it against the move.
 
The meeting discussed issues involving procedures to be followed for replacing Ordinances with Bills and the preparatory measures in the coming session in Parliament, likely to begin in the third week of February.
 
The meeting took note of the possible implications in the event some of these Ordinances are not backed up by Bills in Parliament.
 
For example there will be a problem in auctioning of coal mines if the Coal Ordinance is not replaced by the Bill.
 
“I held an informal meeting with my Cabinet colleagues and about nine Ministers were present along with their secretaries to discuss the procedures to be followed for bringing Bills replacing Ordinances such as the Insurance Bill that is pending, the Coal Bill and also the Mines Bill, the Land Acquisition Bill and the Citizenship Amendment Bill,” Naidu said after the hour-long meeting.
 
“We discussed these Bills threadbare. I apprised them of the procedures to be followed, the earlier precedents and also the need to give advance notice and getting translated into both languages, circulating copies, etc,” he added.
 
Naidu said he tried to “familiarise them with the procedures and ask the secretaries to be ready by the first of next month. That was the purpose of the meeting today.”
 
Coal Minister Piyush Goel, Rural Development Minister Rao Birendra Singh, Agriculture Minister Radha Mohan Singh, MOS for Surface Transport Radha Krishnan, Steel and Mines Minister Narendra Singh Tomar, Law Minister Sadananda Gowda and all senior officials of the concerned ministries were present in the meeting.
 
According to the rules, an Ordinance has to be converted into legislation within 42 days of commencement of Parliament session else it lapses and an Ordinance can be repromulgated only three times.
 

 

User

COMMENTS

vishal

2 years ago

It is not clear why the Government brought the ordinances in the first place, if they are not sure of getting it approved by the Parliament with in the stipulated time of Parliament session. What purpose it will serve? This might have occurred to the President and hence the snubbing to the Government.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)