32.1 C
Punjab
Thursday, October 29, 2026
HomeNational'Act as protective umbrella': SC says banks must compensate digital fraud victims

‘Act as protective umbrella’: SC says banks must compensate digital fraud victims

Published on

'Act as protective umbrella': SC says banks must compensate digital fraud victims
SC questioned the Centre over pharma companies pricing medicines at over 1,000% of cost, saying the industry can’t “run amok” in the name of free market.

NEW DELHI: The Supreme Court on Thursday said banks must be held accountable for compensating victims of digital fraud, stressing that they should act as a “protective umbrella” for customers vulnerable to digital arrest scams.A bench headed by CJI Surya Kant questioned why unusually large withdrawals from a retired person’s bank account could not trigger timely intervention to prevent the loss, Bar and Bench reported.During the court’s suo motu hearing, attorney general R Venkataramani said banks are getting better at identifying suspicious transactions and that preventive measures were being put in place.The amicus curiae sought reports and suggestions from state police forces, noting that digital arrest scams continued despite awareness campaigns.

Latest articles

It only takes one rumour: How a small trigger can lead to a deadly stampede

Stampede at Kolkata pandal during Durga Puja claimed 19 lives. NEW DELHI: It...

SC disposes of Mahua Moitra’s plea seeking public disclosure of AIF, FPI beneficiaries

TMC MP Mahua Moitra approached the Supreme Court seeking public disclosure of the...

From Hitler’s rise to farmers’ misery in India: How the Great Depression changed lives far beyond America

In October 1929, billions of dollars in wealth evaporated from the American...

MLC election results: BJP wins big, but Congress and Samajwadi Party send a message from Nagpur, Varanasi

BJP's big win in MLC elections comes with setbacks in Nagpur and Varanasi...

More like this

It only takes one rumour: How a small trigger can lead to a deadly stampede

Stampede at Kolkata pandal during Durga Puja claimed 19 lives. NEW DELHI: It...

SC disposes of Mahua Moitra’s plea seeking public disclosure of AIF, FPI beneficiaries

TMC MP Mahua Moitra approached the Supreme Court seeking public disclosure of the...

From Hitler’s rise to farmers’ misery in India: How the Great Depression changed lives far beyond America

In October 1929, billions of dollars in wealth evaporated from the American...