Credit Card Frauds on the Highest Stage
Leading bank of private sector ICICI lost more than Rs 11 crore due to credit card frauds last year. There are more than 8,000 cases about the fraud. ICICI had reported about 8,280 cases to the Reserve Bank of India about the credit card frauds and in the frauds lost about Rs 11.47 crore has been estimated.
It was the report of 2008 year which had been introduced by Shakeel Ahmad in Lok Sabha who is the Minister of State for Home. In the series of frauds 703 cases from American Express Bank and 2,484 cases from HSBC Bank had been received. In the frauds American Express lost Rs 6.04 crore and HSBC Rs 4.90 crore.
Total number of cases about credit card frauds have been reported from various banks about 12,959 and lost has been reported about Rs 36.54 crore.
In the series IDBI, Canara and Overseas Bank have no cases in this context. Another major banks - Citibank (Rs 4.73 crore), Standard Chartered Bank (Rs 2.39 crore) and Deutsche Bank (Rs 2.09 crore) are in major loses in the frauds.
In the other hand different banks from private and public sector have reported loss of Rs 36.54 crore to credit card frauds. From the different states loss has been reported in Lok Sabha. Only Maharashtra has reported about Rs 55.54 lakh lost.
In the series Rajasthan has reported Rs 89.93 lakh lost. Andhra Pradesh has reported Rs 64.29 lakh lost and West Bengal has reported Rs 35.72 lakh. Kerla and Delhi have reported Rs 17.60 and Rs 10.90 lakh lost, respectively. However, in Bihar, Goa and Jharkhand have not reported a single Rs. loss.
In these cases from 2007 maximum number of people – 355 has been arrested till date. In these arrested people a maximum number of people were from Madhya Pradesh – 156. To prevent credit card frauds there is no strong step by banks and RBI. However, consumers have suggested by their opinions that banks can stop this to make a customer aware about each transactions.
(ArticlesBase SC #1003802)
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