Banking fraud.. a True Story

Banking fraud.. a True Story

Banking frauds.. facing reality. I had opened an account for my daughter Sonal last year when she turned 18. Gifted her some heafty amount as FD.The account was just parking this FD’s for almost 7 months till demonitisation when I again operated it for old currency deposit. During this time KYC was strictly followed as we submitted all her documents.
After 2 months I missed an SMS on 8th Feb from ICICI cautioning of someone making an unsuccessful attempt to know her internet banking login ID on a mobile number that I had changed about 12 months ago with a new number used by Sonal. Traced the msg only today while deleting some msgs from that spare mobile phone.

Two days later on 11th Feb got a msg from ICICI reading that “the letter for address change sent by courier to new correspondence address could not be delivered as the address could not be found” and this time on my wife Lalitha’s cell. I again ignored it thinking it was wrong msg as I had not applied for any change anyway.

On 18th Feb 2017, I received a courier from ICICI saying ” the address change has been made and as a practice they are sending a intimation to the old address”.
At this point, all hell broke loose, panic gripped and rushed to the bank with the letter.Bank says the request was not processed by the branch. It could be an error from online banking or an employee and must have typed wrong numbers . Online banking customer care replies such request for address change is never processed online and happens only at banks branches. Now I have disabled all online access to this account and the bank is investigating. Today I get a call saying their system is showing no change in address and my address is there. The system also shows my daughter’s cell number registered and cannot explain how the msgs came to my old number and then to my wife’s number.
Important point, how come there is no trace of this transaction in their system. I suspect involvement of an employee of the bank, but who. I am determined to go to the bottom of it and looks like a long fight ahead.

I am holding large deposits in ICICI and am reminded of the saying “don’t put all eggs in the same basket”. As of now I am fortunate to not having lost any money from my account.

Thought of sharing this to alert you on such banking frauds.

(as narrated by Mr. Narendra Jain)

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