Home / Crime and Justice / Supreme Court Tackles ₹54,000 Cr Digital Robbery
Supreme Court Tackles ₹54,000 Cr Digital Robbery
9 Feb
Summary
- Digital fraud siphoned over ₹54,000 crore, deemed 'robbery'.
- Supreme Court mandates a standard operating procedure.
- RBI, banks, and DoT to consult on new fraud prevention measures.
The Supreme Court has declared the siphoning of over ₹54,000 crore through digital frauds as "robbery or dacoity." The court observed that this sum exceeds the annual budgets of many smaller states.
The apex court has mandated the Centre to draft a standard operating procedure (SOP) within four weeks, in consultation with the RBI, banks, and the Department of Telecommunications. This action plan is intended to effectively address digital fraud cases, which may stem from bank official collusion or negligence.
The court also directed the CBI to identify "digital arrest" cases and has requested the Gujarat and Delhi governments to grant sanction for the agency's investigations. Furthermore, a joint meeting of the RBI, DoT, and other stakeholders is to be convened to establish a compensation framework for victims of digital arrest crimes.
