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Chennaites lose 7 crore to debit card frauds

Chennaites lose 7 crore to debit card frauds

Online fraudsters are on the rise in Chennai. City Commissioner AK Viswanathan revealed that while 852 cases of debit card frauds were reported in 2016, 1106 cases have been reported in the last six months of 2017. State Bank of India topped the list overall and ICICI Bank, among private banks. Seven crore have been lost this year and only 20 per cent have been recovered. The Commissioner cited that late reporting by victims and absence of an exclusive Court to deal with cyber crimes were the reasons for the low recovery rate. Complaints received from only 9 per cent of the victims were within 24 hours as most realised late they have been conned. A meeting was held with the bank officials seeking their cooperation to trace suspects and increase customer awareness. The Commissioner informed that most swindlers send e-mails, messages or make calls, personating bankers and seek customer information, bank credentials, card details and sensitive information feigning offer of new ATM cards or reward points. It was advised that public never divulge PIN, CVV number and OTP to strangers as no bank asks for such information.

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