The National Consumer Disputes Redressal Commission (NCDRC) has held DCB Bank responsible for a fraudulent withdrawal of $53,000 from a customer’s account caused by hacking.
The customer had an overdraft account of Rs. 1.8 crores with the bank. They requested the bank to transfer $2,500 twice to their son, which the bank processed correctly. However, the customer said they did not give any further instructions for transactions, even though two pre-signed forms were still with the Branch Manager.
Later, the customer discovered that $53,000 had been withdrawn from their account without their permission. They claimed their account was hacked using a fake email ID to carry out the transfers. The bank argued that the instructions came from the customer’s registered email and said it wasn’t responsible because of the terms and conditions agreed upon by the customer.
The NCDRC found the bank negligent, saying the manager failed to properly check the transactions and held the bank responsible for the unauthorized withdrawals.
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