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Times of India·3 min read·medium

Bank loses Rs 87 lakh to SIM swap fraud, HC orders BSNL to pay over Rs 55 lakh compensation

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TOI LEGAL DESK
Bank loses Rs 87 lakh to SIM swap fraud, HC orders BSNL to pay over Rs 55 lakh compensation
✦AI Summary

The Karnataka High Court has ordered BSNL to pay over Rs 55 lakh in compensation to a cooperative bank following a SIM swap fraud. The court found BSNL liable after an official issued a duplicate SIM without authorization, allowing cybercriminals to steal funds.

Why it matters

This ruling sets a significant legal precedent regarding the liability of telecommunications providers in securing customer identity against cybercrime.

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Bank loses Rs 87 lakh to SIM swap fraud, Karnataka high court orders BSNL to pay over Rs 55 lakh compensation - The Times of India

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