Rising number of frauds: Suggestion put forth for issuing bank guidelines in regional languages

Kochi: The Ernakulam Consumer Dispute Redressal Commission has asked banks to consider giving instructions to the customers in regional languages. Such a suggestion has been put forth in the wake of the rising number of frauds and phishing activities in the banking sector.

The commission has asked the banks to consider issuing guidelines for opening bank accounts, and guidelines related to credit card, debit card, and net banking in Malayalam language in addition to the instructions given in English. The bench has also put forth the suggestion of delivering bank-related SMS in Malayalam, apart from those issued in English language.

The instructions were given by a bench comprising Commission President DB BInu, and its members V Ramchandran, and TN Sreevidya. A copy of the order has been forwarded to the Reserve Bank as well.

The verdict was issued in connection with a petition filed by a Parvoor native, who lost Rs 45,000 from her bank account. A miscreant had allegedly siphoned off money from her account without her knowledge. It is said that the lady had received SMS in her mobile phone, everytime the culprit had withdrawn money from the ATM. However, since the SMS was in English language, she could not realise that she was being cheated, she only became aware of the fraud two months post the incident.

After studying the case, the commission evaluated that lack of knowledge in English and failure in keeping her ATM pin number a secret, made the complainant fall in the trap. Despite dismissing the complainant’s petition demanding compensation, the commission highlighted the need for issuing bank-related messages in regional languages, for reducing the overall number of financial frauds.