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Apex Court Directs Bank to Compensate School who Lost Money in Online Banking Fraud - (20 Dec 2019)

CONSUMER

Apex Court has directed a Bank to give compensation of Rs 25 Lakhs to a school whose money from the bank account was siphoned out by the miscreants. The Court noted that finding of the State Commission, Banking Ombudsman and also by the Apex Consumer Forum that the bank has rendered themselves liable by enabling netbanking facility by linking the individual account of the school’s Principal to the school’s account.

Tags : APEX COURT   ONLINE BANKING  

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