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English Release 29-August 2014
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Previous Date

 
Ministry of Finance22-February, 2013 18:37 IST
Cyber Frauds in Banks

 

            The details furnished by Reserve Bank of India (RBI) in respect of Scheduled Commercial Banks pertaining to frauds relating to ATMs/Debit Cards/ Internet Banking and Credit Cards is as under :

 

                                                                          (Rs. In lakhs)

Sl. No.

Calendar Year

Total cases reported

Amount involved

1.

2010

15018

4048.94

2.

2011

9588

3672.19

3.

2012

8322

5266.95

 

            *Bank wise details of Cyber Frauds for the last 3 years is at Annex – 1.

 

RBI has informed that it does not have data on Cyber Frauds in Public Sector Bank    that have turned into non– performing assets.

 

            The measures initiated by RBI to strengthen security arrangements are as under:-

(i)        RBI acts as per the Master Circular RBI.DBS.FrMC.BC.No.1/23.04.001/2012-13 dated July 02, 2012 on “Frauds – Classification and reporting” containing all the details/aspects relating to frauds. The same is also available on the website of RBI i.e. www.rbi.org.in. On receipt of fraud reports from banks, various aspects related to the frauds are examined and concerned banks are advised to report the case to CBI/ Police/ SFIO, examine staff accountability, complete proceedings against the erring staff expeditiously, take steps to recover the amount involved in the fraud, claim insurance wherever applicable and streamline the system as also procedures so that frauds do not recur.

(ii)       RBI has issued two circulars  viz; (i)  ‘Security arrangements for ATMs of bank’ dated February 22, 2006 and  (ii) ‘Skimming of  ATM/Credit Cards’ dated June 26,2006  advising banks to  take various preventive measures to  combat frauds  relating to skimming or duplicating of credit cards.  The preventive measures include educating customers through cautionary  messages posted  in the web-site of card issuing banks, informing customers not to  reveal PIN in response to requests received through e-mails, to periodically verify the  transaction history, immediate reporting to the bank, if any unauthorized transaction is observed, and inform the bank if the card is lost or stolen.

(iii)      On the basis of suggestions of a Working Group set up by RBI in 2010, RBI has issued guidelines which are fundamentally expected to enhance safety, security, efficiency in banking processes leading to benefits for banks and their customers. The implementation progress are required to be reviewed and report submitted to the Board on quarterly basis.

 

(iv)      RBI vide its Master Circular dated 1.7.2011, on ”Credit Card Operation of Banks” advised  banks to set up internal control systems to combat frauds and to take pro-active fraud control and enforcement measures and to ensure that credit card operations were run on sound, prudent and profitable lines as also fulfill ‘Know Your Customer’ requirement, assess credit risk of customers, specify terms and conditions in clear and simple language, ensure prompt dispatch of bills, maintain customer confidentiality etc.

 

(v)        All Commercial Banks have also been cautioned by RBI vide letter dated. 16.02.2006 on phishing attacks which contained details of the modus-operandi on such attacks and minimum set of preventive/detective measures to tackle phishing attacks. 

(vi)      Besides above, public is advised through press releases/notifications regarding not to reveal account details, do not fall prey to fictitious offers of fund transfer, remittance towards participation in lottery, money circulation schemes, and other fictitious offers of cheap funds etc.

 

            This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Lok Sabha today.

 

 

******

 

DSM/RS/ka

 

 

 


                                                                                               ANNEXURE - I

Deatails of Calender Year wise Cyber Frauds in Banks (Amount in lakh)

 

2009

2010

2011

2012

Bank Name

No. of Cases

Amount involved

No. of Cases

Amount involved

No. of Cases

Amount involved

No. of Cases

Amount involved

Allahabad Bank

0

0

0

0

1

3.3

0

0

American Express Banking Corp.

980

904.57

819

360.75

908

522.76

1231

816.99

Andhra Bank

0

0

1

31.85

1

0.52

0

0

Axis Bank Ltd.

20

110.58

14

44.59

23

209.59

85

1225.41

Bank of Baroda

6

6.88

5

12.4

5

31.82

3

62.45

Bank of India

5

5.21

2

14.61

2

54.49

7

15.82

Bank of Maharashtra

4

3.55

4

4.69

2

2.9

3

105.26

Bank of Rajasthan Ltd.

0

0

1

0.31

0

0

0

0

Barclays Bank Plc

35

21.68

48

8.38

14

6.03

7

1.11

Canara Bank

6

1.39

0

0

1

0.6

1

10.24

Central Bank of India

2

0.84

2

2.15

0

0

0

0

Citibank N.A.

1226

773.18

925

521.27

774

420.01

1504

690.32

Corporation Bank

2

0.72

2

6.21

5

6.44

47

21.69

Dena Bank

0

0

1

2.07

1

0.53

0

0

Deutsche Bank ( Asia )

61

116.64

35

81.94

9

13.67

2

34.74

Development Credit Bank Ltd

2

0.96

2

0.3

0

0

0

0

Dhanlaxmi Bank Limited

0

0

3

2.29

1

3.02

4

1.09

Federal Bank Ltd.

0

0

2

20.5

0

0

3

83.69

FIRSTRAND BANK

0

0

0

0

0

0

14

4.82

HDFC Bank Ltd.

211

165.58

208

125.98

386

276.68

525

409.56

Hongkong & Shanghai Banking Corporation Ltd.

3093

722.45

2520

293.02

793

181.41

709

180.73

ICICI Bank Ltd.

15666

3731.95

9811

1920.28

6013

1096.67

3428

676.51

IDBI Bank Limited

24

16.29

13

15.29

50

44.64

87

203.04

Indian Bank

0

0

1

1.41

1

0.41

4

20.9

Indian Overseas Bank

2

0.39

3

1.44

10

176.03

0

0

IndusInd Bank Ltd.

0

0

3

7.59

3

1.19

2

4.61

Jammu & Kashmir Bank Ltd.

1

4.51

2

6.58

0

0

1

13.88

Karur Vysya Bank Ltd.

0

0

1

23.14

0

0

0

0

Kotak Mahindra Bank Ltd.

57

75.26

31

29.63

52

33.11

78

67.64

Lakshmi Vilas Bank Ltd.

0

0

0

0

0

0

1

10

Oriental Bank of Commerce

0

0

1

4.75

0

0

0

0

Punjab National Bank

33

50.15

108

248.64

28

170.19

14

99.43

South Indian Bank Ltd.

1

2.47

1

0.54

2

0.84

2

0.49

Standard Chartered Bank

374

356.37

386

187.52

435

185.11

511

207.96

State Bank of Bikaner & Jaipur

2

6.66

2

0.15

2

3.49

1

49.32

State Bank of Hyderabad

0

0

0

0

4

63.33

6

50.52

State Bank of India

0

0

0

0

2

14.62

0

0

State Bank of Indore

1

0.8

0

0

0

0

0

0

State Bank of Mysore

0

0

1

1.01

0

0

0

0

State Bank of Patiala

0

0

0

0

4

80.45

2

31.42

State Bank of Travancore

0

0

0

0

6

10.3

3

3.2

Syndicate Bank

2

0.53

1

2.32

1

0.56

2

7.87

Tamilnad Mercantile Bank Ltd.

0

0

0

0

1

0.27

1

1.49

The Royal Bank of Scotland N.V.

142

141.3

51

44.52

46

49.35

14

12.1

UCO Bank

2

0.58

1

1.6

0

0

4

31.22

Union Bank of India

5

10.45

7

19.22

2

7.86

9

70.17

United Bank of India

1

1.37

0

0

0

0

6

32.86

Vijaya Bank

0

0

0

0

0

0

1

8.4

Grand Total

21966

7233.31

15018

4048.94

9588

3672.19

8322

5266.95

********

DSM/RS/ka


(Release ID :92456)

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