BackICICI Bank tops list of credit card frauds, loses Rs11.47 cr
ICICI Bank tops list of credit card frauds, loses Rs11.47 cr
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New Delhi: One of the largest private sector lending institutions ICICI Bank lost more than Rs11 crore due to over 8,000 cases of credit card frauds in 2008.
There were 8,280 cases reported by the ICICI Bank to the Reserve Bank of India, in which it lost Rs11.47 crore between April and December 2008, minister of state for home Shakeel Ahmad said in reply to a question in the Lok Sabha onm Tuesday.
A total of 703 and 2,484 cases were received by American Express Bank and HSBC Bank related to credit card frauds, in which they lost Rs6.04 crore and Rs4.90 crore respectively.
According to the data, a total of 12,959 such cases were received during the said period in which various banks lost Rs36.54 crore.
No cases were reported by IDBI Bank, Canara Bank and Indian Overseas Bank related to credit card frauds last year.
Other banks, which lost significant amount to such practices, were Citibank, which bore a loss of Rs4.73 crore, Standard Chartered Bank Rs2.39 crore and Deutsche Bank with a loss of Rs2.09 crore.
Many nationalised banks were also affected by the fraudulent activities.
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