The Bank MD claims Bank security is not breached and the fault lies with customers who share account details and other personal information to these fraudsters. These days cyber criminals use various tricks to snatch money from gullible bank customers. Even top CEOs of companies, Doctors, Software progessiona;s are all falling prey to these criminals.
But the bigger question is how these criminals identify Bank customers having large bank balances when secrecy is maintained by banks.
Recently the central govt is taking hard steps to catch these criminals and during investigations it was found that some employees of few private banks are providing information about customers bank balance and other information to these cyber criminals for a commission. They are also helping these criminals to open accounts with fake KYC and closing the same after withdrawing the amount. Few of them have been arrested.
Though the fraud occurs because of negligence of customers, cyber criminals cannot withdraw the amount immediately without the help of Bank employees.