Thursday, February 5, 2015

I am surprised that RBI has asked banks to publish on their websites names and addresses of people who have dormant bank accounts or unclaimed deposits. I could only laugh when I read that for security reasons account numbers are not going to be published – as if people cannot forge documents based on mere names and addresses. You read about frauds being committed with much less information. I bet there must be a lot of happy scamsters just waiting to get their hands on this data. And if appropriate processes haven’t been set into place (I have no reason to believe that they have been!), they will be laughing all the way to the bank – literally and figuratively.

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