Online frauds in Banks

Bank news

Online frauds in Banks

In terms of Reserve Bank of India (RBI) Circular no. DBS.CO/CSITE/BC.11/33.01.001/2015-16 dated June 2, 2016 on Cyber Security Framework in Banks, banks have been advised to report all unusual cyber security incidents to RBI within 2 – 6 hours of detection. As on February 28, 2017 the details of the incidents reported by banks since above mentioned circular are given as under:

Sl No Type of Incidents Total no of incidents reported
1 Ransomware 7
2 Distributed Denial of Service (DDos) 2
3 Phishing Attacks 6
4 Rogue Mobile Application 6
5 Card Skimming 3
6 Virus/Malware 13

The details of Online(Credit/Debit cards/ATM Cards/Internet banking) fraud cases (amount involved >= Rs 1.00 lakhs), including of staff involved, bank wise ,during the last three years are as per Annex-I.

Whenever a complaint against a bank official(s) is received and any irregularities are found or observed on the part of Banks’ official (s), the Banks initiate action as per their extant rules and commensurate punishment is awarded to the delinquent employees based on the seriousness of the wrongdoings as per Bank’s disciplinary rules.

Further, RBI has issued the instructions, relating to staff involvement, to banks as a part of the Master Directions of CFMCDBS.CO. CFMC.BC.No.1/ 23.04.001/ 2016-17 dated July 01, 2016.

Details of Credit Card, ATM/ Debit Cards & Internet Banking fraud cases (amount involved >= ?1.00 Lakh) reported from April 01, 2013 to December 31, 2016 (Rs. in Lakh)

Bank Name 2013-14 (1) 2014-15 (2) 2015-16 (3) June, Sept & Dec Quarters 2016 (4)
No. of Frauds Amount involved in Lakh No. of Cases wherein staff is involved No. of Frauds Amount involved in Lakh No. of Cases wherein staff is involved No. of Frauds Amount involved in Lakh No. of Cases wherein staff is involved No. of Frauds Amount involved in Lakh No. of Cases wherein staff is involved
Allahabad Bank 1 3.14 1 0 0 0 0 0 0 0 0 0
American Express Banking Corp. 218 2121.99 0 166 990.68 0 154 575.86 1 122 447.67 1
Andhra Bank 0 0 0 1 1.79 1 0 0 0 1 5.36 0
Axis Bank Ltd. 44 228.8 0 46 153.34 1 86 603.63 0 54 362.25 0
Bank of Baroda 0 0 0 4 1840.98 0 13 61.77 1 4 103.02 0
Bank of India 2 5.14 0 1 3.36 0 4 37.1 0 1 2.11 0
Bank of Maharashtra 4 24.93 0 1 1.15 0 1 3.57 0 1 1.65 0
BharatiyaMahila Bank Ltd. 0 0 0 0 0 0 0 0 0 1 1.17 0
Canara Bank 1 150.54 0 2 62.72 0 1 1.12 0 1 453.66 0
Central Bank of India 20 230.81 0 6 72.19 0 11 64.31 1 3 6.09 1
Citibank N.A. 82 155 1 75 231.04 0 106 253.62 0 137 255.26 0
Corporation Bank 14 27.24 0 3 126.27 0 8 57.98 0 16 24.01 0
Dena Bank 0 0 0 1 2 0 0 0 0 1 1 0
Deutsche Bank ( Asia ) 1 2.69 0 2 15.25 0 1 1.5 0 0 0 0
Dhanlaxmi Bank Limited 0 0 0 1 2.27 0 0 0 0 0 0 0
Federal Bank Ltd. 0 0 0 1 8.84 0 0 0 0 2 27.44 0
FIRSTRAND BANK 0 0 0 0 0 0 0 0 0 1 1.67 0
HDFC Bank Ltd. 100 226.59 1 152 284.27 0 164 350.61 0 113 205.77 0
Hongkong& Shanghai Banking Corporation Ltd. 79 483.66 0 32 95.52 0 35 81.03 0 25 54.22 0
ICICI Bank Ltd. 267 1169.08 3 222 470.15 2 340 921.51 4 228 678.46 2
IDBI Bank Limited 2 4.38 0 3 17.22 0 52 77.73 0 24 37.3 0
Indian Bank 0 0 0 6 50.62 0 3 6.96 0 21 95.11 0
Indian Overseas Bank 0 0 0 1 2.02 0 0 0 0 0 0 0
IndusInd Bank Ltd. 9 55.04 1 3 15.72 0 4 47.08 0 2 30.6 0
ING Vysya Bank Ltd. 1 1.7 0 0 0 0 0 0 0 0 0 0
Jammu & Kashmir Bank Ltd. 1 15.07 0 1 28.07 0 0 0 0 0 0 0
Karnataka Bank Ltd. 5 19.58 0 3 10.18 0 0 0 0 0 0 0
KarurVysya Bank Ltd. 0 0 0 0 0 0 0 0 0 2 13.26 0
Korea Exchange Bank 0 0 0 0 0 0 0 0 0 1 1.28 0
Kotak Mahindra Bank Ltd. 24 191.56 1 16 37.98 0 42 416.56 2 56 118.12 0
Lakshmi Vilas Bank Ltd. 0 0 0 0 0 0 1 2.4 0 1 1.06 0
Oriental Bank of Commerce 0 0 0 0 0 0 5 9.34 0 0 0 0
Punjab National Bank 11 94.23 0 0 0 0 3 10.16 0 1 6.13 0
RBL Bank Ltd. 1 7.75 0 11 51.65 0 6 39.74 0 7 17.38 0
Shinhan Bank 0 0 0 0 0 0 1 1.46 0 0 0 0
South Indian Bank Ltd. 0 0 0 1 2 0 0 0 0 1 4.01 0
Standard Chartered Bank 77 174.16 3 69 172.18 0 122 269.88 2 238 460.48 0
State Bank of India 1 1.03 0 2 82.41 0 5 20.13 0 6 29.79 0
State Bank of Travancore 0 0 0 1 1.34 0 0 0 0 2 9.16 0
Syndicate Bank 0 0 0 0 0 0 9 34.85 0 0 0 0
Tamilnad Mercantile Bank Ltd. 1 1.43 0 1 19.5 0 1 29.5 0 0 0 0
The Royal Bank of Scotland N.V. 9 36.2 0 2 19.48 0 6 10.04 0 1 1 0
UCO Bank 0 0 0 0 0 0 0 0 0 1 3 0
Union Bank of India 2 18.28 0 4 249.28 0 6 29.68 0 2 16.62 1
Vijaya Bank 0 0 0 2 40.47 1 0 0 0 5 44.45 0
Yes Bank Ltd 1 1.75 0 3 7.06 2 0 0 0 0 0 0
Grand Total 978 5451.77 11 845 5169 7 1190 4019.12 11 1082 3519.56 5

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