Whose fault?
Bank or customers?
gaya saara rupaya paani main...shayad hi pakar me aye ktuki din ba din unki techonology bi develop kar rahi hai..........
Does SBI have a OTN system for funds transfers? I don't have SBI account so no idea.
Posted via Mobile Device
Once logged in sbi online bank acccount one can easily disable high security option which sends password on users mobile. But they will also need second password( SBI uses two passwords to operate online account) to disable high security option which is unlikely to be obtained by phishing.
But high security is not enabled by default!!!!
One have to enable it and I don't think most users enable the high security option.
Yes, SBI has OTN system and the best feature I found is one can create virtual credit card.
it is not first time that their security is penetrated .In the past a hacker stole about 4 lakhs from the sbi manager account.Also their websites are regularly targeted by russian hackers .Sometimes they shut them temporarily.
This is sad. Just came across this thread. Government Banks should really beef up their Internet security. This is purely UNACCEPTABLE.
Recently SBI has changed policy for Third party Fund transfer
FAQs on New Beneficiary Addition Process:
What is the change in the beneficiary addition process?
Now you can add and approve only one beneficiary in each of the following categories : SBI, Inter-Bank, VISA and State Bank Group, in a calendar day, which will be activated by the system during the next calendar day. You can commence funds transfer only after activation of beneficiary.
Can a new beneficiary be activated on the same day?
If you wish to activate the beneficiary on the same day, you will have to click on "Branch Activation Form" in "View" tab of corresponding beneficiary category. The duly signed form needs to be submitted to the Branch for immediate activation.
What if I want to add more than one beneficiary in a day?
If you have already added a beneficiary, which is pending for activation, you can add another beneficiary only after the activation of the previous request. If you wish to activate your previous request immediately, you can submit the beneficiary activation request form to your branch.
How will I come to know that the beneficiary added by me has been activated?
You will receive a confirmation SMS advising activation of your beneficiary on your Internet Banking registered mobile number.
Can I transfer funds to beneficiary up to the daily limit of Internet Banking immediately upon activation?
During the first 5 days after activation, you may not transfer more than Rs. 50,000 in the aggregate to the beneficiary added by you. Thereafter, the full per day limit, as set by you, subject to maximum of Rs. 5 lakh, will become available.
Example: If you have added a beneficiary on Monday, it will get activated on Tuesday and till Saturday, you will be able to transfer a total amount of Rs. 50,000 to this beneficiary. From Sunday onwards, you will be able to transfer up to Rs. 5 lakh to this beneficiary per day.
Can I get my newly added beneficiary approved or activated over phone call/ e-mail to Bank or Bank's representative?
No. Such requests will have to be made in writing under your signature, and submitted to the branch which has given Internet Banking to you.
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I added a payee on monday,till saturday, SBi sending me reminder sms that a third party payer has added to your account,if you havent added please delete it
You mean pirated versions of Windows etc?
Posted via Mobile Device
am facing difficulty to receive a couple of payments transferred from SBI accounts 2-3 days back. not yet credited to my account. could this issue be due to the situation discussed above?
This incident highlights a serious issue regarding declining coding standards and poor coding practices among IT service providers. This reminds me of the "NatWest Bank incident", wherein customers fund transfers were left suspended and no one knew what happened to them because of a software glitch. Everyone blames poor coding practices for this.
Perhaps SBI should've outsourced its portal development to more a more reputable company. But, it is the developers responsibility to ensure that all security holes are plugged.
finally one of the payments got credited today! though the other payment still needs to see the light of the day.
is this the news but it says thiefs caught
11-member gang swindles Rs 5 lakh off SBI online account - The New Indian Express
Now thats something which gives bad names to hackers !! Come on dude, when you have brain use it wisely, dont make the poors cry !!
