Vodafone-Idea asked to pay Rs 8.5 lakh in SIM swap fraud

[somnath chakraborty]

MUMBAI: Vodafone Idea has been ordered to compensate a bank fraud victim Rs 8.5 lakh for not following “reasonable security” practices in issuing a duplicate SIM card, which led to the duping. The order was issued by the Maharastra government’s adjudicating officer (information technology). The complaint filed was in June 2015 by a Nashik-based company, Daffodils Furnishing, against Idea Cellular, RBL Bank and ICICI Bank The principal secretary in the state government plays the role of adjudicating officer.

https://twitter.com/x/status/1153568680044662784

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[Abhinav]

Very small amount to pay for compensation, they should have been heavily fined for doing such thing.