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Cheque Fraud: Rs 180 -> Rs 75,000 cashed out. Original text was overwritten. Please read the details and help.

  • Thread starter Thread starter Batman
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Trust Me said:
It can be done with just a signature, --- not really such a big deal for rare events!



I do already do that (with all newly received chequebooks). I still believe it's a completely avoidable hassle.

So these days I try to avoid ordering chequebooks altogether! But, unfortunately, that's not always feasible.
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You have replied partially ignoring main essential of that comment. 😂

Also, not every bank is going to accept the cheque in that manner to cross the line and make a sign and presented for clearance /payment.
 
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What RBI can do is lower the requirement for POSITIVE PAY to ₹5000 or something from ₹5 lakh. Just like how for many cards, only ₹5000 allowed for tap and pay (contactless NFC) txns. There are more secure technologies available for big amounts - UPI, IMPS, NEFT so time to tighten the vulnerable methods.
 
#aniket said:
You have replied partially ignoring main essential of that comment. 😂
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And what would that be? That crossed cheques are redundant in these days of digital transfers? IIRC, this thread itself has references to some specific uses. Holding as security, for one.

#aniket said:
Also, not every bank is going to accept the cheque in that manner to cross the line and make a sign and presented for clearance /payment.
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If it is mandated within some specific framework, all banks will.

Alterations with signatures were commonly accepted by banks in the pre-CTS days.
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telescope said:
Pre printed crossed cheque is good idea but the above quoted idea is terrible.

Imagine where you issued crossed cheque and without your knowledge someone in collusion with bank employees or the person you are handing over the cheque cancels the cross and makes it bearer cheque.

Absolutely terrible scenario.
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I'd just suggested a possible way to attain a desirable goal. How to implement that in an infallible manner, is the job of experts, not mine! 🙂

Be that as it may, I'm curious about your example which seems to suggest use of forged signatures!

By the same token, encashment of any cheque (however obtained) using forged signature (in the intended space) would be a no less terrifying scenario, don't you agree? 🙂
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Trust Me said:
I'd just suggested a possible way to attain a desirable goal. How to implement that in an infallible manner, is the job of experts, not mine! 🙂

Be that as it may, I'm curious about your example which seems to suggest use of forged signatures!

By the same token, encashment of any cheque (however obtained) using forged signature (in the intended space) would be a no less terrifying scenario, don't you agree? 🙂
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yes agree and as I said, I support your idea of pre-crossed cheques. There can be options like we can order two types of cheques, pre-crossed and cheques for cash only.
 
telescope said:
yes agree and as I said, I support your idea of pre-crossed cheques. There can be options like we can order two types of cheques, pre-crossed and cheques for cash only.
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Yes, I did suggest providing pre-crossed cheques as an option. This shouldn't be too complicated to implement, I don't think.
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ritwik2000 said:
bhai iska kya hua atlast update plx
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Thanks @doraemon for the update.

Today RBI sent this email to my neighbour.

I plan to reply with the clause I wrote here -
www.technofino.in

Need help in finding RBI/Banking guideline of KYC for bearer cheque > Rs. 50,000

Hi again people, I am filing RBI Ombudsman complaint for the Rs 75,000 fraudulent cheque case, and need your help in finding RBI/Banking guideline below: If an individual’s bearer check is worth more than Rs. 50000, the bank will always request identification verification before disbursing...
www.technofino.in www.technofino.in

Please feel free to suggest anything else to add in the update/addendum email to RBI.
-----
महोदया / महोदय

कृपया हमारे पास दर्ज की गई आपकी उपरोक्त शिकायत के संदर्भ में आपको सूचित किया जाता है कि हमारे द्वारा वर्तमान में शिकायत की जांच की जा रही है। इस दौरान, आपसे अनुरोध किया जाता है कि आप उक्त मामले में विनियमित संस्था (बैंक) से प्राप्त जवाब (संलग्न ) पर यदि कोई टिप्पणी अथवा उक्त मामले में यदि कोई तथ्य (कागजी साक्ष्य सहित) प्रस्तुत करना चाहते हैं, तो यथाशीघ्र (5 दिवसों के भीतर) “replybojaipur@rbi.org.in” पर प्रेषित करें, अन्यथा अभी तक उपलब्ध कराए गए दस्तावेजों / टिप्पणी के आधार पर उक्त शिकायत पर निर्णय लेते हुए शिकायत को बंद कर दिया जाएगा

Translation:
Madam / Sir

In respect of your above complaint lodged with us, you are kindly informed that the complaint is presently being investigated by us. In the meanwhile, you are requested to send your comments, if any, on the reply received from the regulated entity (bank) (attached) or facts (including documentary evidence) if any in the above matter to “ replybojaipur@rbi.org.in ” as early as possible (within 5 days), otherwise the complaint will be closed after taking a decision on the above complaint based on the documents / comments provided so far.

Sincerely

CrPC

Reserve Bank of India
 
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