{"id":1245557,"date":"2023-05-15T11:49:15","date_gmt":"2023-05-15T06:19:15","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1245557"},"modified":"2023-05-15T11:49:46","modified_gmt":"2023-05-15T06:19:46","slug":"paytm-user-robbed-of-rs-3-lakh-via-fraud-high-court-orders-paytm-to-pay-full-amount-a-new-precedent-for-cyber-frauds","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/paytm-user-robbed-of-rs-3-lakh-via-fraud-high-court-orders-paytm-to-pay-full-amount-a-new-precedent-for-cyber-frauds\/","title":{"rendered":"Paytm User Robbed Of Rs 3 Lakh Via Fraud; High Court Orders Paytm To Pay Full Amount (A New Precedent For Cyber Frauds?)"},"content":{"rendered":"\n

The Madras High Court has ruled that digital payment platform Paytm must compensate a victim of cyber fraud, despite not being a traditional banking institution.<\/p>\n\n\n\n

\"Paytm<\/figure>\n\n\n\n

Victim approaches court<\/strong><\/p>\n\n\n\n

This came forth when Dr R Pavithra, a post-graduate medical student, lost around INR 3 lakh due to fraudulent transactions on her Paytm account.<\/p>\n\n\n\n

The hackers siphoned off her money from her savings account at City Union Bank using Paytm’s digital payment interface.<\/p>\n\n\n\n

In a typical ‘pass-the-parcel’ scenario, neither party came upfront. <\/p>\n\n\n\n

RBI\u2019s role <\/strong><\/p>\n\n\n\n

The RBI which is a quiet observer in such matters also told the court it typically does not interfere in transactions between regulated entities and their customers.<\/p>\n\n\n\n

Despite its detailed instructions for banks and Prepaid Payment Instruments (PPI), no concrete responsibility has been established for such third-party violations.<\/p>\n\n\n\n

The Madras High Court cut to the chase by insisting that the complainant must not suffer for  no fault of hers. <\/p>\n\n\n\n

Paytm’s Misstep<\/strong><\/p>\n\n\n\n

Paytm failed to prove within the RBI-mandated 90-day period that the customer was liable for the loss.<\/p>\n\n\n\n

This would make it clear that the amount should be repaid to the customer, irrespective of negligence on her part.<\/p>\n\n\n\n

The Verdict<\/strong><\/p>\n\n\n\n

The High Court ruled that RBI must ensure Paytm compensates the victim<\/p>\n\n\n\n

The order highlighted RBI’s obligation to intervene when Paytm continues to violate guidelines and adopts an unfriendly attitude towards its users.<\/p>\n\n\n\n

This is a landmark ruling since it raises questions <\/a>about the responsibilities of digital giants like Paytm, Google Pay, Amazon Pay, and others in protecting their users from fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Madras High Court has ruled that digital payment platform Paytm must compensate a victim of cyber fraud, despite not being a traditional banking institution. Victim approaches court This came forth when Dr R Pavithra, a post-graduate medical student, lost around INR 3 lakh due to fraudulent transactions on her Paytm account. The hackers siphoned […]<\/p>\n","protected":false},"author":24,"featured_media":1245600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[88,1574,765],"class_list":["post-1245557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-fraud","tag-madras-highcourt","tag-paytm"],"acf":[],"yoast_head":"\nPaytm User Robbed Of Rs 3 Lakh Via Fraud; High Court Orders Paytm To Pay Full Amount (A New Precedent For Cyber Frauds?) - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/paytm-user-robbed-of-rs-3-lakh-via-fraud-high-court-orders-paytm-to-pay-full-amount-a-new-precedent-for-cyber-frauds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paytm User Robbed Of Rs 3 Lakh Via Fraud; High Court Orders Paytm To Pay Full Amount (A New Precedent For Cyber Frauds?) - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"The Madras High Court has ruled that digital payment platform Paytm must compensate a victim of cyber fraud, despite not being a traditional banking institution. 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