Supreme Court Tackles Digital Fraud: A Call for Action
The Supreme Court has condemned the theft of Rs 54,000 crore via digital fraud as 'robbery' and urged the creation of a procedure to handle such cases involving the RBI, banks, and other stakeholders. It highlighted the need for timely interventions from relevant bodies and suggested using AI to trace fraudulent accounts.
- Country:
- India
The Supreme Court has likened the siphoning of over Rs 54,000 crore through digital fraud to outright 'robbery or dacoity.' On Monday, it urged the Centre to establish a standard operating procedure in consultation with key stakeholders, such as the Reserve Bank of India (RBI) and banks, to tackle these offenses effectively.
A panel led by Chief Justice of India Surya Kant, alongside Justices Joymalya Bagchi and N V Anjaria, pointed out that the funds withdrawn via digital deceit surpass many small states' entire budgets. They blamed potential collusion or negligence by banking officials and emphasized the need for rapid responses from both the RBI and financial institutions.
Among several directives, the court asked the Ministry of Home Affairs to review and integrate various SOPs, including those from the RBI and the Department of Telecommunications (DoT), into a coherent draft within four weeks. It also urged compensation frameworks for victims and called for the criminal probe of identified digital cases, highlighting the urgency of robust countermeasures.
ALSO READ
-
Supreme Court Upholds Madras High Court's Ban on Animal Sacrifice
-
Supreme Court Urges Swift Decision on Sengar's Appeal
-
We direct Centre to formally adopt, implement RBI's SoP across India for inter-agency coordination in dealing with digital frauds: SC.
-
SC orders that a draft MoU be framed by inter-departmental agencies in four weeks to effectively deal with digital frauds.
-
SC seeks timely actions from RBI, banks on digital fraud; says it may be due to collusion or negligence of bank officials.
Google News