Supreme Court says banks must repay digital fraud victims for negligence
- The Supreme Court said banks must compensate digital fraud victims if their failure to check suspicious transactions causes financial losses.
- Victims of digital arrest scams should receive at least the amount lost if the bank is found responsible.
- Banks should flag unusual withdrawals, temporarily block suspicious transactions and alert police to prevent fraud.
- • The Centre reported a 50% decline in digital arrest cases, but losses have reached nearly ₹800 crore this year.
Source: indiatoday.in
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