Recently on 12th March 2016, Mr.Chandra Bhushan, who is associated with Legal India & Pravakta.com as an IT Consultant faced online fraud transaction in his Bank of Baroda’s bank account. In the noon of 12th march at 12:03PM, Mr. Bhushan got three SMS of debit of Rs.5078.97 from his bank account.
He was shocked to see the SMS and immediately checked his account logging via online. He noticed that the debit transaction of Rs.5078.97 has been done repeatedly 3 times at an interval of 25-30 seconds at 12:03pm on 12th March 2016 to an unknown recipient but the transaction date was mentioned 14th March 2016, i.e. two days advance.
He immediately called the customer care center of Bank of Baroda and complain about the issues, But the customer care executive was totally unable to tell about the transaction and recipients, he only suggested to block the debit card. Mr. Bhushan immediately requested to block the card and asked about the advance date of transaction.
Customer care executive justified the transaction by saying that due to Saturday since bank working hour closed after 12:00pm therefore all the transaction done after 12:00pm will be showed in the date of coming working day. However Mr. Bhushan referred about the last Saturday, 5th March transaction of Rs.340 to Bharati Airtel at evening 5:00PM that was registered on the same day i.e. 5th March 2016. But again Customer Care executive has not given any satisfactory reply.
He requested the Executives to block the transaction of 14th March since its future transactions but Executive expressed his inability to do so.
Now the question is that has the Bank of Baroda provided online transaction facilities to its account holders without any security prevention?
Secondly can any unanimous user, do future transaction date entry in their bank server.
Thirdly can any unanimous user can do transaction in any one’s account without their permission?
Fourthly if any account holders know about future fraud transaction, then how he will stop the transaction?
It is important to mention that now a days Bank of Baroda is under CBI investigation for illegal foreign transaction of Rs.6,000 Crore under ‘Forex Scam’.
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Mr. Chandra Bhushan investigated that all the transaction mentioning TENPAY*TENCENT i.e. transaction code of TENCENT payment gateway a China based reputed online payment gateway.
Mr. Bhushan showed his worry about these transaction, that may be a trick of illegal foreign transaction like ‘Forex Scam’.
Legal India in favour of general public warns customers of Bank of Baroda to take precautions if bearing online banking facility or ATM Card or Credit Card.