Why banks are partly responsible for bank ATM frauds

After the Dena Bank ATM fraud, the newspapers in Goa reported that a similar fraud had taken place for ICICI bank, Porvorim branch and the amount stolen was even higher at more than Rs 7 lakh . In a way some of the banks affected are responsible for the bank ATM frauds when these banks, especially private sector banks, destroy the life of their competent hardworking experienced customers making fake allegations of money laundering, black money and being a security threat, without any proof at all.

These customers are making a lot of money online because they are experienced, competent, can compete with the best in the world, yet when the incompetent careless bank and other officials are making fake allegations without proof, without giving the customer a chance to defend himself or herself, they are wasting resources and tax payer money trying to frame an innocent harmless person. Now after nearly 6 years of falsely accusing an innocent person, the bank and other officials have not got any proof, yet refuse to admit their mistake in falsely accusing the innocent bank customer.

Today at least 30-40 people are working full time or part time trying to frame or monitor the harmless online exporter, Paypal account holder, who was falsely accused by some bank and other official. If the same resources were spent for tracing those involved in the ATM fraud, it could have been prevented a long time ago. The careless incompetent bank official making fake allegations without proof has also effectively ended the professional career of a very brilliant hardworking honest person who could have helped trace those involved in the atm and other online frauds.

So when banks, intelligence and security agencies in India falsely accuse a brilliant experienced hardworking individual of an illegal activity without a valid proof, they are not only wasting tax payer money, resources like expensive ntro monitoring equipment, they are destroying the life of an innocent harmless person, and allowing ATM fraudsters, cybercriminals to commit crimes freely.