Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ News / Ex-Union minister Dayanidhi Maran duped of 99,999 via net banking fraud

Ex-Union minister Dayanidhi Maran duped of ₹99,999 via net banking fraud

The former IT minister sought accountability from the Centre over the financial fraud incidents reported in recent years, asking what steps were being taken to protect citizens' private data.

Dayanidhi Maran, former Union Minister of Communications and Information Technology (Photo by Harikrishna Katragadda/Mint/File)Premium
Dayanidhi Maran, former Union Minister of Communications and Information Technology (Photo by Harikrishna Katragadda/Mint/File)

Former Union minister and senior Dravida Munnetra Kazhagam (DMK) leader Dayanidhi Maran on October 10 said he has been duped of 99,999 through a net banking fraud.

Sharing the details on social media, Maran said 99,999 was “stolen" from his Axis Bank personal savings account through a net banking transfer via “IDFC First Bank-Billdesk". The transaction, which was not initiated by him, bypassed “all normal safety protocols", he added.

An OTP, the standard protocol for such transactions, was neither generated nor received on the mobile number linked to the bank account, Maran stated in a post on X, formerly known as Twitter.

“Instead, a call was made to the account's joint holder - my wife's number and the fraudsters had the gall to ask if the transaction had taken place. They pretended to be from the bank but had @cbic_india on their display picture. This confirmed my suspicions and I immediately proceeded to block all activities on my account (sic)," he added.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!

The DMK leader said he was puzzled by how the fraudsters accessed his personal information and breached security protocols “with such ease". This was not a phishing attack nor were any sensitive details divulged, he posted.

“Axis Bank was clueless as to how the attack had happened nor could they give any solid explanation for why the OTP was not required from my number for the transaction to take place," Maran added.

Maran, who held the Communications & IT in the erstwhile UPA government, said that when a fraud of this manner could be committed against someone who is aware of tech and cautious with private data, then “what about first-time digital users and senior citizens?"

The former minister demanded “accountability and justice" from the Centre, as he cited The Hindustan Times to point out that financial fraud accounted for 75 percent of cybercrimes in India from January 2020 to June 2023.

“Reports of sensitive Aadhaar data being sold emerged as early as 2018. Banks’ data breaches and ransomware attacks have become regular news," Maran tweeted.

“…we need robust security and government action. What action is the government taking to protect our private data? Will @FinMinIndia & FM release a white paper on this? We need answers and we need them now. (sic)," he further stated.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 10 Oct 2023, 03:59 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App