Internet or Online Banking Fraud Cases

What is Online or Internet Banking Fraud? What are Legal Remedies ?
Most online banking fraud schemes involve two steps. First, the criminal obtains the customer's account access data, i.e. logon name and password. Second, the criminal uses this information to transfer money to other accounts and withdrawals the funds. For the first step, criminals have employed different schemes in the past: The "over the shoulder looking" scheme occurs when a customer performs financial transactions while being observed by a criminal. A fair number of cases have been reported where customer's account access data was obtained by the criminal just by observing customers at a public Internet access point. The "phishing" scheme involves using fake emails and/or fake websites. The word "phishing" stems from combining the words "password" and "fishing". Criminals send emails that appear to be from the customer's bank that direct customers to a fake website. This website impersonates the bank's website and prompts customers for their account access data. Over the past months, most banks have executed customer education programs, thereby reducing the effectiveness of this scheme. It will, however, take awhile before all customers are smart enough to extinct phishing. The "Trojan horse" scheme is based on embedding a computer virus type software program onto the customer's PC. Trojans often tie themselves into the keyboard driver and record keystrokes. Once a Trojan detects that the customer opens an online banking website, it captures login name and password, and sends it to the criminal.

Legal Remedies with which We can help you
1. Filing Police Compliant with the cyber police station / local police station
2. Filing a Complaint with the Banking Ombudsman
3. Filing an Application for compensation with The Adjudication Officer
4. Filing a Consumer Compliant with the Consumer Forum
5. Taking up the case with Media

How to Prevent from Online or Internet Banking Fraud ?
1. Change your password regularly
Users must change their password after the first log-in for online banking. Besides, keep changing your password at regular intervals. Needless to say, don't disclose your password to anyone, not even the banking staff.
2. Avoid using cyber cafes for banking purposes
Avoid using the Internet banking facility from cyber cafes, libraries or from systems installed in public places. But in case it is an absolute necessity, you must clear the browser cache and delete the temporary files on the PC you've accessed the Internet from.
3. Don't use personal details in the password
Avoid using your date of birth, telephone number, address or name in your password. This practice makes your account more vulnerable to being hacked as your password can be easily guessed by just about anyone. Besides, do not leave your computer unattended while you are logged in to the bank site.
4. Don't let your browser memorise your details
Never let your computer remember your passwords, names, etc. Always disable the browser's option of storing user names and passwords. 5. Don't e-mail credit card and account details Make it a thumb rule not to send credit card or account details via e-mail to anybody, or in response to an e-mail.
6. Shop at reputed Websites only
While shopping online, please wait for a second and check if the website is an established one and a reputed name in the online shopping domain. Always check if the shopping site has a well-established permanent address.
7. Log off when finished
Always log off after Internet banking once you are done with it. You need to log out from the website and do not shut off the window in order to log off from the session
8. Look for the padlock and the 's' in the URL
While making online payments, check whether the website is secure or not by looking for, i) a padlock symbol at the bottom of your browser, and ii) an 's' added to http in the URL. It should then be https.
9. Check the account
Whenever you make a transaction, immediately check your account and see if the right amount has been deducted or added to it. In case there is any misappropriation, inform the concerned bank immediately.
10. Don't follow the links
Always reject any e-mail that asks you to follow a link to the website of your bank. You may end up revealing your personal details on a fake bank website, from which hackers steal information.
11. Don't open multiple browsers
You must not open multiple browsers during Internet banking. Also equip your system with an up-to-date anti-virus software and have a firewall installed in it. 12. Destroy the receipts Do not keep documents and receipts related to your online translations. They usually carry confidential personal financial information. You had better destroy or shred such documents or receipts to stop them from falling into the wrong hands.
13. Don't share your personal information on websites
You shouldn't give your e-mail address at websites without knowing how it will be used. Besides, do not share your personal information like date of birth, etc, on the Internet unnecessarily because it can be used by others to unlock or generate your account password.