{"id":181936,"date":"2024-11-25T10:52:11","date_gmt":"2024-11-25T10:52:11","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/25\/delhi-hc-holds-sbi-accountable-for-cyber-fraud-orders-rs-2-6-lakh-refund-penalty-and-compensation-for-victim\/"},"modified":"2024-11-25T10:52:11","modified_gmt":"2024-11-25T10:52:11","slug":"delhi-hc-holds-sbi-accountable-for-cyber-fraud-orders-rs-2-6-lakh-refund-penalty-and-compensation-for-victim","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/25\/delhi-hc-holds-sbi-accountable-for-cyber-fraud-orders-rs-2-6-lakh-refund-penalty-and-compensation-for-victim\/","title":{"rendered":"Delhi HC holds SBI accountable for cyber fraud, orders Rs 2.6 lakh refund, penalty, and compensation for victim"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" src=\"https:\/\/i0.wp.com\/img.etimg.com\/photo\/msid-115658279,imgsize-63092.cms?resize=1200,900&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Delhi HC holds SBI accountable for cyber fraud, orders Rs 2.6 lakh refund, penalty, and compensation for victim\" title=\"Delhi HC holds SBI accountable for cyber fraud, orders Rs 2.6 lakh refund, penalty, and compensation for victim\" \/><\/div>\n<div data-brcount=\"11\">The Delhi High Court has directed the <a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/state-bank-of-india\/stocks\/companyid-11984.cms\" rel=\"noopener\">State Bank of India<\/a> (SBI) to refund Rs 2.6 lakh to a 55-year-old <a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/cyber-fraud\" target=\"_blank\" rel=\"noopener\">cyber fraud<\/a> victim, holding the bank accountable for service deficiencies. The court also mandated <a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/state-bank-of-india\/stocks\/companyid-11984.cms\" rel=\"noopener\">SBI<\/a> to pay 9% annual interest on the refunded amount and Rs 25,000 as compensation to the petitioner for legal costs.<\/p>\n<p><style><![CDATA[\n    \t    #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;}\n    \t    .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px}\n    \t    #sr_widget.onDemand .sr_desc{margin:0 auto 0;}\n    \t    #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;}\n    \t    #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important}\n    \t    #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%}\n    \t    #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}\n    \t]]><\/style>\n<p><!--\/article_liveblog.cms?msid=105115637&pos=toppotime:1--><\/p>\n<h2>Incident Overview<\/h2>\n<p>The petitioner, a victim of <a data-ga-onclick=\"Inarticle articleshow link click#News#href\" target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/definition\/phishing\" rel=\"noopener\">phishing<\/a> and vishing fraud in 2021, lost Rs 1 lakh and Rs 1.6 lakh after clicking on a suspicious link warning of SMS service deactivation. Despite not sharing any OTP with the fraudsters, the amount was withdrawn from his account.<\/p>\n<h2>Court&#8217;s Observations<\/h2>\n<p>Justice Dharmesh Sharma, presiding over the case, criticized SBI\u2019s inadequate response to the fraud report. &#8220;The response of the bank was lukewarm, defective, and not prompt,&#8221; the court observed, adding that this highlighted a &#8220;glaring service deficiency.&#8221;<\/p>\n<p>The judgment emphasized that banks are agents of their customers and have a responsibility to exercise due diligence and prompt action when fraud is reported. In this case, the court noted, SBI failed to take any immediate steps, such as initiating a chargeback or freezing the suspicious accounts involved in the fraud.<\/p>\n<h2>Bank&#8217;s Accountability<\/h2>\n<p>Justice Sharma highlighted that SBI showed negligence in addressing the breach despite being notified promptly by the victim. The court remarked, &#8220;The bank demonstrated a glaring service deficiency and failed to exercise due care, neglecting their duty to act swiftly upon notification of the fraudulent withdrawal.&#8221;<br \/><!--\/include_growfast.cms?pagename=article&skipcss=1potime:1--><\/p>\n<h2>Broader Implications<\/h2>\n<p>The judgment underscores the critical role of customer care services in assisting bank customers, particularly in cases of suspicious transactions. It reinforces the obligation of banks to act swiftly to prevent financial loss to customers.<\/p>\n<style><![CDATA[\n    \t    #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;}\n    \t    .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px}\n    \t    #sr_widget.onDemand .sr_desc{margin:0 auto 0;}\n    \t    #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;}\n    \t    #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important}\n    \t    #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%}\n    \t    #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}\n    \t]]><\/style>\n<p><!--\/article_liveblog.cms?msid=105115637&pos=botpotime:1--><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/economictimes.indiatimes.com\/news\/india\/delhi-hc-holds-sbi-accountable-for-cyber-fraud-orders-rs-2-6-lakh-refund-oenalty-and-compensation-for-victim\/articleshow\/115658279.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Delhi High Court has directed the State Bank of India (SBI) to refund Rs 2.6 lakh to a 55-year-old cyber fraud victim, holding the bank accountable for service deficiencies. The court also mandated SBI to pay 9% annual interest on the refunded amount and Rs 25,000 as compensation to the petitioner for legal costs. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":181937,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-115658279,imgsize-63092.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[42922,2894,13320,20152,2921,40594,142387,6229,3220,5957,5606,13127,67982,20088,1549,142386,3557,17710],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/181936"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=181936"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/181936\/revisions"}],"predecessor-version":[{"id":181938,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/181936\/revisions\/181938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/181937"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=181936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=181936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=181936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}