Online frauds, specifically in the field of online banking and credit cards are at an all time rise. Here again, the smaller, sub-`1 Lakh frauds hardly get any respite. And the key reason why victims don't get any justice is because of lower literacy amongst bankers with regards to various remedies available and the unduly trust that customers have toward their bankers. "As per information available with RBI, the total monetary loss suffered by Indians (as reported to RBI) is `54 crore during the year 2013-14 (up to September 30, 2013) and the amount of monetary loss in the cases registered by the CBI is `48.49 crore (up to November 30, 2013)", said Milind Deora, the Minister of State for Communications and IT, in a written reply to Rajya Sabha.
Source and Full Story Here: http://www.dqindia.com/dataquest/feature/212920/spine-chilling-incidents-online-banking-fraud