Hyderabad, March 27 -- The Telangana High Court is scrutinizing the role of banks in cyber fraud cases, particularly focusing on the State Bank of India (SBI) Keezhmad branch in Ernakulam, Kerala.
Justice NV Shravan Kumar has ordered the branch manager to submit an explanation within two weeks regarding the adherence to Reserve Bank of India (RBI) norms when permitting a fraudulent entity to open a current account.
Digital arrest fraud scheme
This directive arose during the hearing of a writ petition filed by 80-year-old AV Mohan Rao from Gopanapally, Hyderabad.
Rao fell victim to a digital arrest fraud scheme, where he was coerced into transferring Rs 50 lakh.
The funds were subsequently funneled into an account registered under the...
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