New Delhi: The State-Level Bankers’ Committee (SLBC) in Delhi has warned customers against the increasing number of ATM frauds, and suggested a time lag of six to 12 hours at least between two transactions.
Customers have been worried about the rise in fraudulent activities related to ATM transactions. According to a report by The Times of India, the plan was discussed during a meeting with 18 bank representatives last week as part of an ideation exercise by the department of financial services.
Speaking to Mukesh Kumar Jain, convenor of Delhi SLBC and MD and CEO of Oriental Bank of Commerce (OBC), The Times of India found that most of the fraud cases occur at night, from midnight to early morning. “A lot of these frauds happen at night, from around midnight to early morning. A bar on transactions for a certain period can help,” he said.
There have been at least 179 ATM fraud cases reported in Delhi, the second-highest in the country following Maharashtra which has 233 such cases reported. Recently, there has also been a rise in the cloning of cards and many foreign nationals have been seen involved in the cases, The Times of India report stated.
If such a proposal putting a bar on time between two transactions is accepted, one will not be able to withdraw cash for a stipulated time period using the same card.