The customer suffered unauthorized debits totaling Rs 5.44 lakh following a fraudulent phone call on April 7, 2024. While Rs 1.30 lakh was recovered, the bank refused to refund the remaining Rs 4,14,488, claiming the woman compromised her security credentials by sharing her screen. Rejecting the bank's defense due to an absence of transaction logs and device verifications, the consumer forum ordered a full refund with interest alongside compensation for mental agony.
Key points
Technical authentication like OTPs and MPINs cannot be treated as voluntary authorization…: Technical authentication like OTPs and MPINs cannot be treated as voluntary authorization in deceptive cyber fraud disputes.
Financial institutions must supply concrete fraud-monitoring safeguards and technical aud…: Financial institutions must supply concrete fraud-monitoring safeguards and technical audit logs to legitimately dispute customer fraud claims.
Banks remain vulnerable to consumer compensation penalties when failing to prove customer…: Banks remain vulnerable to consumer compensation penalties when failing to prove customer consent following prompt reports of unauthorized transactions.
Sources checked by our analysis pipeline: 1
NEW DELHI: A district consumer commission in Delhi has directed
Canara Bank to refund Rs 4.14 lakh to a woman who lost Rs 5.44 lakh in two unauthorised transactions after receiving a fraudulent call. It held that the bank could not shift the entire loss onto her merely because the transactions were authenticated using her banking credentials, as it failed to produce complete technical records establishing her voluntary authorisation or negligence.
Case background
As per the commission order, Vinita, a savings account holder with Canara Bank, received a fraudulent call on April 7, 2024, around 4 pm. The following morning, two unauthorised transactions of Rs 5 lakh and Rs 44,488 were made from her account through IMPS.
She immediately reported the fraud to the Cyber Crime Helpline and approached the bank, requesting that her account be blocked. However, she alleged that the officials at the nearest branch failed to provide timely assistance and directed her to the Ganga Ram Hospital branch.
By the time the account was blocked, Rs 5.44 lakh had been debited. Despite repeated follow-ups, only Rs 1.30…
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