{
  "id": 12608401,
  "title": "Cyber fraud victims face delays and little accountability from banks",
  "url": "https://urgent.news/2026/10/07/cyber-fraud-victims-face-delays-and-little-accountability-from-banks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T10:38:34.000Z",
  "source": {
    "name": "The Hindu",
    "slug": "the-hindu",
    "url": "https://www.thehindu.com/news/national/cyber-fraud-victims-face-delays-and-little-accountability-from-banks/article71551486.ece"
  },
  "original_language": "en",
  "account": "A recent study reveals that cybercrimes have significantly impacted how victims navigate through complex systems and seek accountability from banks. The survey of 8,306 respondents across 16 states and territories found that 13% of individuals experienced cybercrimes in the past two to three years, with 54% of victims falling prey to digital financial frauds. Victims who reported the incidents to banks within the first 24 hours were more likely to receive a response, but the study indicates that banks often evade accountability and place limited liability on themselves. In one case, a journalist received a scam call and subsequently faced a loan against his credit card, which the bank attributed to his collaboration with the perpetrator. Other victims reported similar delays in stopping unauthorized transactions. Some victims even accused bank insiders of leaking their financial data, which led to the cybercrimes. Experts and police officers also believe that banks prioritize business interests over security, leaving customers with little recourse for the mental, physical, and financial consequences of the crimes.",
  "summary": "13% of respondents experienced cybercrime in the past two to three years, with 54% of victims reporting digital financial fraud; while most victims approached banks within 24 hours, many reported delays in blocking unauthorised transactions, poor support and banks’ reluctance to accept liability; victims, experts also raised several concerns",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}