The Supreme Court directed digital platforms, including WhatsApp, to submit fraud prevention frameworks to the Indian Cybercrime Coordination Centre and the bench before November 23. Chief Justice Surya Kant emphasized that financial institutions must act as a protective barrier by using transaction histories to block illicit transfers before money disappears. The court ruled that future regulatory frameworks from the Reserve Bank of India must require banks to compensate victims if due diligence failures enabled the scam. Although reported cybercrimes have declined by 50 percent, financial losses have still reached approximately Rs 800 crore this year.
Key points
Digital platforms must formulate and present concrete plans to stop fraudulent schemes op…: Digital platforms must formulate and present concrete plans to stop fraudulent schemes operating across their networks.
The Reserve Bank of India must draft rules mandating full victim compensation when bank o…: The Reserve Bank of India must draft rules mandating full victim compensation when bank oversight failures facilitate cybercrimes.
The central bank is required to provide a comprehensive directory of authorized financial…: The central bank is required to provide a comprehensive directory of authorized financial institutions ahead of the November 23 hearing.
Sources checked by our analysis pipeline: 1
Supreme Court seeks mandatory compensation for digital fraud victims if banks fail due diligence
NEW DELHI: The Supreme Court has asked WhatsApp and other digital intermediaries to submit details of the measures they propose to take to prevent digital arrest scams and related cybercrimes, directing them to share their proposals with the Indian Cybercrime Coordination Centre (I4C) as well.A bench headed by Chief Justice of India Surya Kant, also comprising Justices Joymalya Bagchi and V Mohana, issued the direction in an order uploaded on the court's website following a hearing on October 29.The matter has been listed for further hearing on November 23.The case, taken up suo motu, is titled ‘In Re: Victims of Digital Arrest Related to Forged Documents’.“WhatsApp LLC (A Meta company) and other concerned intermediaries are also directed to apprise this Court of the measures they propose to undertake to prevent the digital arrest scams and related cybercrimes. They shall also simultaneously submit their proposals to the I4C,” the bench said.
SC wants banks to compensate digital fraud victims
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