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सार्वजनिक·190 सदस्य

_Tony Enterprises_ _versus_

_Reserve Bank of India_


*Online fraudulent transactions* -

*Bank cannot recover any amount from customer when amount is lost through online fraud.*

A. Constitution of India, 1950 Article 226

*SIM swapping fraud*

- *Online withdrawal of money from account by third party* -

*Bank cannot claim any amount from customer when a transaction is shown to be a 'disputed transaction*

' - *Bank can recover from customers only when it can unequivocally prove independently through civil suit:**

*that customer was responsible for such transaction,*

*RBI guidelines mandates to exonerate a customer in such 'disputed transaction'* -

*RBI circular presumes innocence of customer in such circumstances and onus falls on bank to prove otherwise.*

*Disputed transaction' means A transaction prima facie tainted by fraud*

*What is SIM swapping?*

_The fraudster obtains an individual’s banking details through phishing techniques or by purchasing these from organised crime networks. They then use this information, including personal details sourced via social media, to pose as the victim to the mobile network operator and fool them into cancelling and reactivating the victim's mobile number to a SIM in their possession. As a result, all calls and texts to the victim’s number are routed to the fraudster’s phone, including one-time passwords for banking transactions. After receiving a one-time pin or password from a bank, the fraudster can then potentially access the customer’s bank account and transfer funds._

Adv Rahul Kushwaha
Dr.Sudha Kushwaha


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