I read this today in a newspaper. Thought of sharing it here.This is a hi-tech theft that happened in Chennai. Three guys have first prepared a fake letter pad of a private company's managing director named Anjankumar. Then they sent a letter in the name of Anjankumar to Airtel stating that he lost his SIM card and requested to issue a new one. As a result of this, anjankumar's original SIM got deactivated. Then they got the password and other details of anjankumar's account in Kotak Mahindra bank. Then they transferred 3 lakhs rupees to their account which was already opened in the same bank for this purpose. Anjankumar gave a complaint to the police. Now these guys are arrested. After reading this news, i had the following questions.
1. When the mobile company receives a complaint about the lost SIM card, will it not check by calling that nhumber whether it is really lost? How can it issue a new SIM card like this without checking?
2. How can the bank send the details like password through SMS? To my knowledge, most banks will ask several questions to authenticate the person in case of lost password?
It seems we have to be very careful while doing online transactions.
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Mean- Your questions are very genuine. It goes without saying that the Mobile phone company and the bank have not exercised adequate precautions.
We have definitely to be vary careful. We should change our pass word regularly and not keep heavy balances in saving/ current accounts. Fixed deposits are the appropriate channel for heavy cash balances.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
While the electronic banking has come as a boon but it is not an unmitigated blessing.The incident reported here is just an example of how serious the consequences could be if caution is not observed while do transactions through this mode.
very hifi indeed. nice work. They could have been more vigilant so they wont get caught at all then the airtel and the bank must have to pay the money to the affected party
