“Ignorance of law is not an excuse”
In today’s day and age, being vigilant has become indispensable considering the obscene quantum of nefarious activities that are taking place all around by the hour. Serious apprehensions have emerged against unsolicited phone calls claiming the targeted victims of being beneficiaries/recipients of rewards and prizes, spoofed/spam e-mails resorting to lucrative and vicious traps for alluring victims, cyber-dacoity and allied malicious cyber fraud activities.
In this regard, the most recent method of cyber dacoity seems to be associated with fraudulent fund transfers. The targeted victim in such cases, receives an SMS for clearance of Cheques, suggestive of money accidentally having been transferred to his account. Immediately beyond receiving such a message, the victim gets a spoof call or fax from an extremely serious “official” body such as “Revenue Department”, “Income Tax”, “TELECOM”, “Water and Electricity Municipal Departments” etc. with a request to transfer this amount, accidentally debited, back to some “official” bank account. The victim, in such a manner is made to believe, that money has been wrongly deposited to his account, through cheque deposit. He is further induced into paying such money back to the said “official” account.
On investigation, it has been asserted on numerous occasions, that such bank accounts used for transferring money to the victims, in such transactions, are not official account at all; rather they are personal accounts registered with fake identity. Also, the cheques issued in such cases are issued against accounts with negligible or nil balance and it is merely a matter of time that such cheques get bounced.
Therefore, money is never actually deposited into the account of the victim. Instead such an impression, which is created on the victim induces him to return the equivalent amount even before the same has been credited to his account. Thus, victims end up paying out of their own pockets without having received any money whatsoever.
It is therefore critical and of paramount importance to realize that in case of any accidental transaction, the onus is only on the Banker to make things right and not on any individual or governmental body.