Pune, July 16 Karve Nagar resident Vinod Malhotra suffered a loss of Rs 95,000, which was transferred through 19 phone bank transactions in just two minutes
While cyber criminals are on the prowl, the increasing number of online fraud have also put a question mark on the security system of banks. Vinod Malhotra, a 60-year-old citizen from Karve Nagar, who lost Rs 95,000 to an online fraud, gave a letter to the Shivajinagar police station today requesting the investigation officer, police sub inspector S B Ghorpade, to book the ICICI Bank authorities in the case.
The police have so far booked Bhavin Gunwantilal Kakadia of Chira Bazaar, Mumbai. That is because Malhotra’s money was transferred into Kakadia’s account on June 2. But Malhotra has alleged that the loss occurred because ICICI Bank failed to protect his account.
Malhotra received a fraudulent e-mail on April 18, carrying a logo of ICICI Bank, seeking his credit card account details. Taking it to be genuine request, the elderly citizen submitted the details. He then sent an e-mail to ICICI Bank to check if they had actually sought the information.
On April 20, the bank replied that it was a fraudulent email. But on April 21, fraudsters used his credit card for booking tickets worth Rs 4,000 for Adlabs theatre, Mumbai. On April 21, the credit card was again used for online shopping worth Rs 3,083 through a US-based website.
Malhotra received the customary SMS alert about this transaction. He immediately contacted the bank and submitted details of the illegal transactions. The bank replied that it was a “phishing” attack. The bank then blocked his credit card and issued a new one, assuring him that his account would be protected properly.
But again on June 2, Rs 95,000 was transferred from his savings account. A stunned Malhotra filed a complaint with the Kothrud police on June 3.
The case was transferred to Shivajinagar police station since his account was with the Shivajinagar branch of ICICI Bank. “When I went to the bank with the police, a senior officer from the Operations Department said that money was transferred from my savings account through phone banking,” said Malhotra.
“The officer said that my mobile number was changed from the system. The fraudster replaced it with an Airtel mobile number from Punjab and then transferred money to Kakadia’s account through 19 phone banking transactions of Rs 5,000 each in just two minutes,” he added. “The money was further transferred to a private business firm’s account in Mumbai and withdrawn by the fraudster using cheques,” he added.
Malhotra said that he had given his mobile phone number to ICICI Bank only for receiving SMS alerts on account details. “I never used the net banking and phone banking facility. I don’t even remember the passwords required for these facilities. So there was no chance of me submitting the passwords to any phishing mail or person. I believe the fraud could have been avoided if ICICI Bank had not failed to keep vigilance on its internal security system,” he said.
Malhotra communicated with K V Kamath, the MD and CEO of the bank, requesting him to investigate the case and repay his money. After a 30-day internal investigation, ICICI Bank replied that it was not at fault and would not compensate for the loss. So Malhotra lodged a first information report (FIR) with the police on July 12. On Tuesday, the bank replied that his case would be re-investigated.
When contacted, ICICI Bank Head (Corporate Communications) Charudutta Deshpande said, “ICICI Bank has a fool-proof security system. But we don’t doubt the genuineness of our customers. Proper investigations will be done.”
Police Sub-Inspector Ghorpade said, “We have dispatched a team to Mumbai for investigations. But there is not much progress because the bank has not yet given us complete information about the suspects.” “We have not yet booked the ICICI bank officials. But we would be interrogating bank officials if required,” he said.
Pune police Cyber Committee Coordinator Sudam Choure said, “There have been cases in the past where secret information was leaked from banks. Usually, the bank employees on contract basis or courier companies were involved in the frauds. There is need for the banks to increase their internal security system.”
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