Issue :Unauthorised  transfer of Funds by Bank with forged signatures

State Bank Of India V/S Sat Pal Gupta (NC)

First Appeal No 1209 of 2017

Decided on 1.6.2022

Facts

NRI Account and FD’s Opened with following Protocol-

       I.            Account holder to provide registered Email to the bank for communication about transactions

    II.            Request for transaction would be confirmed telephonically

 III.            Bank shall seek scanned signatures from the account holder if any transaction /funds transfer is to be done

 IV.            Bank Relationship Manager &AGM shall confirm by calling the account holder

 

Grievance of account holder

·         Funds transferred from the account in two trasactionsUS dollars 26525from the account and US  doller 7500 by breaking FDR on receiving e mail Transfer was made to some account in Malaysia and Australia which were never authorised by the customer

·         Customer complains but bank took legal advise from advocate and then informs they have done it as per the advise received from him as per procedure

·         Again complaint to higher authorities board of director and chairperson of the bank ,received reply the same

·         Third Complaint to ombudsman who rejected the compalaint without looking into the version of complaint and without speaking order

·         No Fir lodged with police by Bank

·         No action against the erring officer

Matter before State Conmmission and Findings-

·         Email of account holder was hacked which was confirmed by cyber crime after receiving complaint from consumer

·         Bank had failed to confirm about transaction on phone and through scanned signatures

·         Signatures wer totally different from the specimen signatures as done through forensic report with specimen signatures ,signatures on pass port and also from other documents

·         Bank was to take discharge before breaking FDR which is not done

Bank never made any investigation till the case came before the court even after three complaints and complaint before ombudsnman

·         Bank is responsible to safeguard the accounts of account holders from any cyber crime and take action if some fraud is suspected

·         State Commission Ordered for –Refund with 9%interest ,Rs 200000/-Compensation Rs 20000/-litigation charges

·         NC Confirms State Commission Order

 

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