Bank to pay ₹45,000 to UT couple over fraudulent transactions

Bank to pay ₹45,000 to UT couple over fraudulent transactions

A bank fraud case in Chandigarh saw the financial institution ordered to compensate a UT couple after they reported fraudulent transactions to the cybercrime cell on the same day they informed the bank and submitted required documents.

Complaint process

The complainants immediately informed the bank, provided the necessary paperwork, and lodged a complaint with the cybercrime cell, according to their statement.

Bank liability

The bank was directed to pay a total of ₹45,000 to the couple for the unauthorized transactions.

Context

A bank operates as a financial institution that handles deposits, loans and electronic payments for its customers.

Source: source