Consumer forums in Tamil Nadu making banks pay back victims
Consumer forums in Tamil Nadu are making banks pay back people who lost money to cyber fraud—and even add compensation.
After a string of scams where folks lost lakhs through phishing texts and fake calls, the forums have emphasized that banks cannot ignore RBI guidelines on handling disputed transactions.
In 2 cases, banks were told to refund the amount
Take S. Muthu from Madipakkam: he lost ₹11.58 lakh after a phishing SMS and WhatsApp call, even though he tried to block his account right away.
Madhumitha from Anna Nagar had ₹4.87 lakh swiped after scammers used her details for a loan—her bank didn't stop it in time either.
In both cases, the consumer forum ordered full refunds plus extra compensation, calling out the banks for not acting fast enough.
Trend of rulings
Over a dozen similar rulings have come down lately in Tamil Nadu, showing this isn't just about one or two cases.
These rulings highlight the expectation that banks should protect customers online and respond quickly when something goes wrong.