Email instructions not to be followed

 

While encouraging customers to make use of Net banking facility, banks have started to voice their anxiety over rising Internet-related frauds. For instance, State Bank of India recently issued a circular asking its branches “not to carry out any financial transactions requested by NRI customers through e-mail, even if the request is made by a letter scanned as an attachment.” The branches have since stopped entertaining requests from NRI customers. “Not only are the customers at a loss, but the bank is also losing business. The circular follows instances of fraud brought to the notice of the bank based on instructions received from registered email IDs of NRI customers. “There have been cases of accountholders disputing the transactions subsequently.”