ATM FRAUD

Date: 27-10-2016                                             by email and posted on website of RBI

To,

Chief General Manager
Consumer Education and Protection Department
Reserve Bank of India
1st Floor, Amar Building, Sir P.M. Road, Mumbai-400 001

Email: helpdoc@rbi.org.in

Respected Sir,

Subject: Suggestion for Safety of ATM Transactions

This bears reference to recent massive cyber attack/data breach in banking system mainly ATMs of premier banks. Huge amount has been defrauded at ATMs. I had made suggestion as per my attached letter dated 19-04-2015 [reminded on 01-03-2016 and 10-07-2016]. I hope suggestion, if it would have been implemented by RBI/NPCI , could have saved crores of rupees of customers using ATMs. Now most of premier banks will force customers to approach consumer fora and wait for years to get back amount defrauded. I am sure RBI and NPCI are still studying my suggestion and hope it will be implemented in near future for safety of ATM transactions. This may kindly be treated as THIRD reminder in the interest of public.

Yours faithfully,

J P Shah

Copy to:  National Payments Corporation of India

C-9,8th Floor  RBI Premises, Bandra-Kurla Complex,

Bandra (East), Mumbai-400 051 [on its website.]