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Abney Associates Online Warning News Articles - PNB told to pay largest cyber crime compensation of Rs 45 lakh

Posted Mar 07 2013 3:00am 1 Comment

In the largest compensation awarded in legal adjudication of a cyber crime dispute, Maharashtra's IT secretary Rajesh Aggarwal has ordered Punjab National Bank to pay Rs 45 lakh to Manmohan Singh Matharu, MD of Pune-based firm Poona Auto Ancillaries.

A fraudster had transferred Rs 80.10 lakh from Matharu's account in PNB, Pune after Matharu responded to a phishing email. The amount was allegedly moved to two PNB accounts in Gujarat and one in Mumbai after being parked temporarily in the PNB account of Sutlej Textiles in Kathua, Jammu & Kashmir.                                                                 

The fraudster had apparently "tested" a Rs 1,000 transaction before going for bigger transfers. Matharu has been asked to share the liability since he responded to the phishing mail.

Matharu's is one of 13 e-fraud cases, all originating in Maharashtra and with an imprint across six states, in which the state's IT secretary, serving as an adjudicating officer under the IT Act 2000, last month passed critical orders against nine banks, four telcom firms and two mobile recharge portals.







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The problem is most organizations do not have the capability to protect themselves from cyber war and most of the countries as well, technologies that leads to cyber war is way far from the technology on how to protect ourselves. Sadly most do not even know they have been breached and others will not report it for fear of the repercussions.

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