NEWS & ADVICE : CREDIT CARDS
Banks opting more for insurance covers against online frauds
By Ankit Sharma
Mar 7, 2014
Print    Email    RSS   

According to a report due to the increasing skimming and online fraud cases the banks are opting for more insurance covers against online frauds, phishing and skimming. Insurance companies showed that large Indian banks are opting for policies worth Rs 500 crore to shield against fraud.

Due to the rise in the use of plastic money, credit cards, online banking the risk of skimming and phishing are increasing rapidly. TR Ramalingam, head of underwriting at Bajaj Allianz General Insurance reported that these due to these online frauds a huge upsurge is noticed in the demand of insurance covers against such frauds.

Earlier the insurance companies do not provide policies related to computer fraud, but now they are finding it to be big in coming days. Recently 62 banks filed a total of 26,598 cases related to online frauds. Due to these increasing frauds people are actively looking for the measures to protect themselves from these frauds.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Utilise credit card reward points
The ABN AMRO One Card
How Your Credit Card Can Help To Improve...
Be familiar with your Cash-Back Credit Card
Increasing trend of prepaid cards in India


Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...
Radhey@09646870399 @Call#Giℛls In#Chandigarh...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive