Banks should compensate loss, demand victims

August 10, 2016 12:00 am | Updated 07:49 am IST - THIRUVANANTHAPURAM:

Victims of the ATM fraud have demanded that the respective banks should compensate them for their losses.

K. Jayadevan, a resident of Vazhuthacaud, said he had lost Rs. 1.24 lakh from three bank accounts, of which two were in private banks and the other in the State Bank of Travancore (SBT). According to him, withdrawals were made in quick succession from the accounts on Sunday, soon after which he had alerted the bank authorities and managed to get his debit cards blocked.

He lamented the ‘indifferent attitude’ of officials of certain banks, who initially placed the blame for the loss on the account holders. “They claimed that the complainants were responsible for failing to protect the unique details of the ATM cards,” he said.

Another victim of the fraud, Vishnu Vijayan, a business analyst, lost Rs. 30,000 from his salary account in the State Bank of India (SBI). He held the view that the onus of ensuring precautionary measures lay with the respective banks.

“As in the present case, one cannot be expected to search for suspicious objects that have been concealed behind smoke detectors or other equipment. The responsibility of banks does not end with issuing notices that are meant to alert customers of fraudulent activities,” he claimed.

Other banks yet to take a call

While the SBT has learnt to have got in touch with the affected customers and has decided to compensate them, the other banks are yet to take a call on the issue.

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