Consumer panel asks SBI to compensate Telangana man defrauded by cyber criminals 9 years ago

Pulling up the bank, the commission said that “instead of trying to trace the cybercriminal, SBI neglected and said police has to find the criminal”. “Rs 600 was deposited in the account of a customer who had never used Paytm and the bank did not try to trace the person who had cheated through all this”. The Commission also attributed the fraud to a lack of proper surveillance on part of the SBI.

Telangana: In a significant development, the Telangana Consumer Commission, has directed authorities at the State Bank of India (SBI) to pay Rs 1.46 lakh along with the interest to its customer defrauded by cybercriminals, nine years ago while the bank allegedly looked the other way. The victim MK Mishra, a resident of Cherlapally in Cyberabad, had taken a personal loan of Rs 3 lakh from SBI in 2013 and was issued a debit card by the bank.

It has been learned that the cybercriminals had swindled Rs 1.46 from Mishras' account through his debit card between May 5-7, 2013. Mishra complained to the SBI authorities who did not respond to his complaint forcing him to approach the district consumer forum. The forum ordered that SBI has should pay the amount to the customer with interest from 2013.

However, the SBI officials filed an appeal in the state consumer commission against the verdict. Turning down the SBI plea, a bench comprising commission chairman Justice MSK Jaiswal and members Meena Ramanathan and K Ranga Rao, while hearing the plea said, “Since 2012, the customer has been using a debit card. It was only when the loan was taken that it was misused”.