Bank frauds are becoming common a fact that has prompted the Reserve Bank of India to ask banks on Wednesday to set up special surveillance and investigation cell.
While the more common ones include online frauds or identity theft, there are more blatant ones when someone from the bank or outside forges your signature.
For instance, a couple in Mumbai discovered recently that their accountant had withdrawn Rs 34 lakh (Rs 3.4 million) in two tranches by forging their signatures.
On approaching the bank, the branch manager said that since the bank was going through a system upgrade, they were unable to verify the signatures.
After the couple approached the police and filed a criminal case, the bank refused to compensate them under the pretext that they should wait for the outcome of the case.
In such cases, the customer has three choices. One, approach the bank directly and tell them that there has been a fraud because of their laxity. If the bank does not resolve the issue within a month, approach the Reserve Bank of India's banking ombudsman.
Two, approach a consumer court, and three, file a criminal case with the police immediately.
