Cyber fraud drains woman’s bank account; Canara Bank ordered to pay Rs 5.64 lakh
Canara Bank is mandated to reimburse a woman Rs 4.14 lakh after unauthorized transactions were linked to a fraudulent phone call. The woman's financial loss totaled Rs 5.44 lakh, but the bank could not substantiate claims of her authorization. The commission highlighted that authentic transactions do not imply voluntary consent in cases of fraud. As a result, the bank must also compensate for…
NEW DELHI: A district consumer commission in Delhi has ordered Canara Bank to pay Rs 5.64 lakh to a woman whose bank account was drained following two unauthorized transactions. The commission found that the bank could not shift the entire loss onto her, as it failed to provide complete technical records proving her voluntary authorization or negligence in the cyber fraud.
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