HUBBALLI SUNDAY FEBRUARY 04, 2018 `6.00 PAGES 28 CITY EDITION S2 LAKH LOST TO BANKING FRAUDS EVERY HOUR; K’TAKA STANDS THIRD In Yogi’s UP, over 900 encounters in 10 months Last year, scamsters manipulated credit/debit card information and internet banking details to defraud people to the tune of B178 crore across the country, highest in banking system till date K I R A N PA R A S H A R K M @Bengaluru THE digital push by the Union government may have made a difference in making transactions more traceable and people more accountable. But cyber fraudsters across the country are also making the most of it. Statistics reveal that `2 lakh was siphoned off every hour by fraudsters through credit/debit cards and internet banking in 2017. Despite attempts to curb credit card/debit card and internet banking frauds, a total of `178 crore was stolen across the country last year. This is the highest amount cheated in the banking system till date. An average of `48 lakh is lost to scamsters every day according to the latest statistics from the Ministry of Electronics and Information Technology, based on fraud misappropriation reports submitted by banks till December 21, 2017. According to RBI re por ts, Karnataka stood third in the country in credit/debit cards and internet banking frauds in 2016-17. There were 221 cases registered related to f r a u d s t o t a l l i n g ` 9 . 1 6 c r o r e. Maharastra stood first at `12.10 crore. As per the data, cyber crimes in Karnataka have increased in the last three years. In 2014-15, a total of 91 cases were registered in connection with frauds amounting to `4.3 crore; in 2015-16, 179 cases were registered with `4.7 crore loss. The reported cases were where the amount lost was more than `1 lakh. Cases of frauds of less than `1 lakh were not considered in the report. The extent of online frauds can be gauged by the fact that the cyber crime police station in Bengaluru registered as many as 250 cases in just one month this year. Experts say incidents of banking frauds are under-reported due to lack of awareness. Though RBI has, in the past, claimed to have taken measures, banking frauds have only increased in every financial quarter in 2017. From cases involving skimming to phishing to hacking into the banking systems, the vulnerability of the banking systems and lack of awareness among customers have cost account-holders dearly . I n t h e l a s t we e k o f J a n u a r y, t h e U n i o n Ministry of Home Affairs, in a circular, admitted that there is a lack of awareness about the modus operandi cyber criminals adopt to cheat people and directed state DGPs to create regular awareness campaigns advising people not to share their user IDs, passwords, debit/credit card PINs and OTPs etc. The Ministry also suggested that the help of financial institutions, NGOs, educational institutions and resident welfare associations be taken for such campaigns. K Mookhey, CEO & Founder of Network Intelligence, a global cyber security firm, said compared to the volume of transactions, the money lost to frauds may look small, but definitely cannot be ignored. FIGURES TELL THE TALE The Union Ministry of Home Affairs has admitted that there is a lack of awareness about the modus operandi cyber criminals adopt to cheat people GONE IN A FLASH Quarters Cases Amount (in lakh rupees) Till March 2017 3,077 1,330.1 Till June 2017 5,148 1,962.71 Till Sept 2017 7,372 3,420.86 Up to Dec 21 10,220 11,185.73 Total 25,817 17,899.4 A 251 crore lost since 2014 According to Ministry of Finance, RBI has said that between April 2014 and June 2017, `251 crore was lost to cyber crimes. This includes credit card frauds totalling `130.57 crore, ATM/debit card frauds of `91.37 crore and internet banking frauds to the tune of `30.01 crore. Some ways of cheating by scamsters Skimming with advanced equipment fixed in ATM kiosks Phishing Vishing Cloning of cards through various sources Hacking banking systems Hacking account details over internet Prithvi Shaw became the fourth India captain to lay hands on the U-19 World Cup trophy. India defeated Australia by 8 wickets in the final | PTI Shaw & Co draw fresh painting on the wall RA H U L RAV I KU M A R HUNDRED runs, 10 wickets, 10 wickets, 131 runs, 203 runs, and eight wickets. These margins are more than evidence enough for assuredly making the statement that Rahul Dravid’s wards have shown a tremendous amount of superiority each time they’ve stepped out onto the field over the last fortnight. Saturday wasn’t just about India making another addition to their silverware cabinet. Rather it was the culmination of a stellar run that has announced these boys’ arrival on the global stage, and the ostensible beginning of what seems a bright future when they become men. After the celebrations, starts the most important phase. Of the players who won U-19 WC in the past, only a handful made it big at the senior level. With Dravid at the helm, this bunch has a man who can teach how this transition phase should be handled. INTERVIEW VINAY SAHASRABUDDHE BJP, vice-president ‘GUJARAT IS GUJARAT, MP IS MP IN WALL OF FAME: P14 B N A M I TA B A J PA I @ Lucknow NINETEEN encounters in the last two days that have left three gangsters dead and more than two dozen criminals in the police net exemplify the new style of policing in Uttar Pradesh. The encounters were the latest of the more than 900 on record that have taken place in the ten months since Yogi Adityanath came to power. It is an alarming rate of nearly three encounters a day. The toll: 34 criminals killed and over 200 injured, with four men in khaki also lo sing their lives. The swoops on outlaws carrying bounties of up to `1 lakh on their heads have turned UP into the encounter state of India. In the latest encounters, at least eight of those arrested carried cash rewards ranging from `15k to `50k on their heads. JP vice-president Vinay Sahasrabuddhe says the party’s scaled-down victory in the Gujarat elections does not mean it will be up against similar challenges in Madhya Pradesh. Claiming his party always strikes a balance in its approach towards electoral victory and defeat, he highlights the BJP’s organisational strength in MP and the popularity of its Chief Minister in an interview with The New Sunday Express. He says that terror and cultural ties cannot go together in the case of Pakistan. FULL INTERVIEW: P9
Express Publications (Madurai) Limited publishes the prestigious English language newspaper The New Indian Express from 21 centres in Tamil Nadu, Karnataka, Andhra Pradesh, Kerala and Orissa.
Express Publications (Madurai) Ltd. also publishes the Tamil daily Dinamani, Cinema Express (Tamil) and Malayalam Vaarika (Malayalam). Through a sister company, Kannada Prabha Publications Ltd., it publishes the Kannada daily Kannada Prabha.