“Banking on Online Banking”
Chandrashekhar J Rawandale, Manish M. Deshpande, Vinayak P. Rajadhyaksha · 2018 International Conference On Advances in Communication and Computing Technology (ICACCT) · 2018
To know the operation on field of precautionary and remedial legal measures in cases involving Digital Identity Theft, we have analyzed a pilot case of victimization in Sangli City (Maharashtra, India). The analysis shows how consumers banking online can fall an easy prey to cyber fraudsters due to breach of precautionary regulations by banking sectors and how the legal remedies available to victims can be ineffective in certain cases. Since IT has proved to be boon for industries world over; every country in the world today including India is taking efforts to recognize the legality of transactions done online by consumers, providing necessary infrastructure and creating in many other ways conducive legal environment for the growth of IT industry. However, these developmental objectives should not override the interest of individual consumers in the face of growing instances of Online Identity Thefts world over. It is necessary to protect them from victimization not only by enacting necessary preventive and remedial legal measures but also through effective law enforcement. The paper will help law and policy makers appreciate the problems on field and possible solutions available for effective implementation of relevant laws relating to Identity Theft.