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Fraught by frauds The recent high profile fraud cases in our banking sector have deeply jolted all the stakeholders and have once again highlighted the vulnerability of our banks, specially while dealing with corporate loans and celebrity industrialists who manipulate the banking system by conveniently bypassing protective mechanisms. Successful economies minimise corruption, embezzlement and frauds which are characteristics existing everywhere but unfortunately for us, the instances of banking frauds which are a silent killer of our economy only seem to be on the rise as a result of corruption, inefficient regulations, lack of oversight, business pressures to meet unreasonable targets, lack of tools to identify potential red flags and collusion between employees and external parties. Whether it’s issuance of fake LoUs by two junior employees (as in case of PNB) or conflict of interest on the part of CEO ICICI Bank, it’s amply clear that our banking industry is confronted with deep internal threat wherein anyone from a CEO to lower level employees can manipulate and defraud their bank while both internal and external auditors look the other way. Such high profile frauds , scams and wilful defaults have a detrimental impact on the economy and ease of doing business, employees morale and investors' confidence. Indian banking has always been a soft target for fraudsters and in recent years the frequeny, volumes and gravity of frauds and wilful defaults have only seen a rise. We as a developing nation cannot afford such setbacks and need to get our act together. Fraud risk management needs to be given utmost importance and diligence in order to prevent and detect fraudulent activities thereby limiting the losses incurred. The banks need to be more agile and think ahead of the fraudsters. A comprehensive and effective anti frauds programme comprising preventive, detective and responsive mechanism can enable banks to identify weaknesses inherent to their processes and identify new threats. Over the years, frauds and scams in this sector have become more sophisticated and hence, their redressal is a major concern. Banks need to make themselves secure, become vigilant and build resilience in order to beat fraudsters in this cat and mouse chase. It is important for banks and financial institutions to understand that fraud investigations require specific skills like forensic accounting and technology to collect adequate evidence which needs to be relevant and comprehensive to be admissible in a Court of Law. Other important aspects like source of evidence, legitimate witness, electronic evidence can add credibility to the case. If these are not in line with legal requirements, the organisations will not have confidence to take legal recourse against the fraudster which can also be the reason why many banks may not be reporting all their cases to law enforcement agencies.
Abettor's Dead End Supreme Court has legalised passive Euthanasia and living will, saying that right to life includes right to die. This Supreme Court decision has paved the way for decriminalizing suicide, an issue which will be revisited in future, in view of domestic and international developments pointing towards the same. It has been said time and again that a person committing suicide is a 'victim of circumstances' and not an 'offender'. Section 115( 2 )of the Mental Health Care Act mandates the government to provide care, treatment and Rehabilitation to a person having severe stress and who attempted to commit suicide , to reduce the risk of recurrence . As and when suicide is taken off from the list of crimes , the treatment of 'abetment of suicide' also needs to be looked into .The dictionary meaning of 'abetment' is 'assistance'; for instance, if a medical practitioner gives deadly pills to help someone commit suicide , it is abetment. But in legal cases, policemen and judges commonly interpret abetment as ‘driving a person to suicide’. However, the entire concept of driving a person to suicide seems ill founded . According to various studies , no one can be driven to suicide as 99.99% of people will not commit suicide under any circumstances . Only 0.01% of people commit suicide and that too not because harassment is common in their cases but because of mental illness and depression. Researches by mental health experts have revealed that there is an entirely different cause of suicide which is a chemical imbalance in the brain and which can be traced to genetic variation that affects brain chemistry . This chemical imbalance may be addressed with timely and proper medication .Going by these findings, it is clear that there is a kind of people in the world who are suicide prone. Then how is it justified to legally hold a person responsible and punishable if someone else commits suicide ? If a person suffering from severe stress , anxiety or depression (for whatever reasons )does not take timely medical help in terms of counselling and medication and chooses to end his / her life , it's purely his / her choice and the person accused as an abettor is actually a tiny factor in the Grand play of things. The person committing suicide due to his /her own failure, seals the fate of the abettor , who is left fighting a suicide note and its interpretation. The pattern is familiar and typical : a business reversal/ failure , breakup of marriage, a failed relationship , academic and professional failure , depression, a downward spiral, leading eventually to suicide . Suicide is a crime in the present times hence 'abetment of suicide 'is also a crime but this whole skewed treatment of suicide and abetment of suicide defy common sense. It deprives the alleged abettor of an opportunity to defend himself / herself by cross examining the 'so-called victim of circumstances 'who may have played an active role in creating those circumstances .There are enough and more instances in India when someone commits suicide and his / her relatives obtain arrest of those accused of causing mental anguish which drove that person to this extreme step. However, people who commit suicide are responsible for their own death because it takes more than a couple of bad situations to make someone take his life. Suicides are a very personal decision. Unless a person physically helps another to commit suicide, it is not his fault . Suicide is never the only option and despite huge hardships there are other options that can be taken to address a situation . There are cases where violence, blackmail, cruelty, criminal intimidation, harassment, etc.lead suicide prone people to commit suicide. But in all such cases , the harassers should be prosecuted for the relevant crime. WHY an additional crime called 'abetment of suicide'?
Twinkle Khanna has been served with a notice for promoting Supertech Greater Noida project with 1400 flats which never took off and the developer has called it off. Maybe Mrs funny bones (Twinkle's recently acquired name) finds the matter funny and can laugh it off .However , it is a grave situation for those 1400 people who have invested their hard earned money in the project but have been left high and dry. Anupam Kher actively endorsed and advertised the project of Vigneshwara Developers which was abandoned by the company and when questioned over the same, he conveniently passed over the blame onto the gullible buyers , calling them 'funny'. Over the last few years, he has become self proclaimed spokesperson for Kashmiri Pandits and takes credit for turning on the spotlight on the plight of Kashmiri Pandits in the valley and says that had it not been for him, the present generation would not have known what happened to them 26years ago. But does Anupam Kher know what has happened to the buyers who had invested in Vigneshwara Developers, strongly endorsed and promoted by him? In one of his interviews, he has said that"The Kashmiri Pandits have been thrown out of their own land and I have a right to talk about their plight and suffering." But what about the plight and suffering of the large number of people who have been mislead by him? Why is he treating them differently? Is he not concerned about these homebuyers/investors who invested their life earnings in these projects because of the faith that he brought with his status?Is he not affected by the consequences of his association with a defaulter group or has the fee received by him sealed his lips? MS Dhoni, the most reliable and popular cricketer of our country, who was the Brand Ambassador of Amrapali Group, resigned from the builder who didn't deliver the houses to their buyers. But how has Dhoni helped these buyers by resigning? He only helped himself in doing so.Why has he not returned/refunded the payments received by him in this project? Many questions but no answers. Several homebuyers and investors have been hit hard by defaulting companies, false promises and incomplete projects endorsed by celebrities. It's high time for celebrities to take responsibility and bear the brunt of their actions in terms of a hefty penalty and jail term. KMLAWASSOCIATES is the most reliable law firm in Delhi NCR for matters pertaining to cheating and fraud. We have successfully represented victims of Unfinished housing projects and also clients cheated by stockbrokers in Delhi NCR.
BEWARE, SOMEONE IS WATCHING The debates between Aadhaar card and privacy rights have been making headlines every now and then, where privacy has been a key focus. Doesn’t our society lack enough privacy as it is?Are we ready for Big Brother (Aadhaar card) eavesdropping, controlling and manipulating every aspect of our personal lives? There are heightened privacy concerns and questions over the security of biometric data in possession of the Unique Identification Authority Of India(UIDAI).Many have opined that it is an intrusive tool open to misuse by the Government or others. Another area of concern is that our country presently lacks cyber security norms and which , it would not be wrong to say, are almost non existential. Aadhaar card is a convenience, no doubt about that as it’s a never-fail identification document that we need and provides a unique identity to avail Govt schemes. However, UIDAI guidelines are not only confusing but also contradictory. On one hand, it’s website says, ”Aadhaar number empowers residents of India with a unique identity and a digital platform to authenticate anytime, anywhere and is accepted as proof of identity of the cardholder for any purpose.” On the other hand , it says that Aadhaar number should not be shared with anyone. While it says that biometric information is never shared, company like Reliance Jio is already collecting fingerprints of its customers to simplify the eKYC process which is nothing short of a 'privacy nightmare'. Leakage of Aadhaar data of cricketer M S Dhoni made headlines, however, similar leakages of lesser known mortals have gone unnoticed. A recent report by 'The Tribune' claims that it had gotten access to around a billion Aadhaar Numbers in 10 minutes by paying Rs500/- to an anonymous seller. A few more security breaches which have surfaced are: -Money in Bank accounts withdrawn fraudulently using Aadhaar data -210 Govt.websites made Aadhaar data public. -Water and sanitation ministry breached Aadhaar privacy. -Aadhar details of over 6 million people leaked on a website managed by the Jharkhand Directorate of social security. Hacking into databases for data is not very difficult for a person with the necessary motivation, skills and time. Systems are hack proof only until the first hack. So what is one supposed to do in these confusing times and discussions? Is there any way to ensure that personal data is not misused? Well yes, there are a few weapons available to a cardholder in terms of certain actions which can protect his personal data . A mechanism exists under which a card holder can choose to block his Aadhaar card along with his demographic and biometric information if he wants to opt out of the UIDAI system. Biometric data should be locked by the cardholder so that no one can access it and the same can be unlocked by following the process given in UIDAI website. A cardholder must not give a photocopy of Aadhaar card in Physical/digital form and must not share his/her Aadhaar number. If there’s no option but to produce a photocopy of Aadhaar card, the cardholder must write the purpose on it and must also self attest it. After all, someone has rightly said BETTER SAFE THAN SORRY. KMLAWASSOCIATES is the first choice of victims of security breaches in Delhi NCR. Whether it’s misuse of personal information or CCTV coverage, the professionally led , expert team of KMLAWASSOCIATES ensures that hassle free justice is delivered to those whose personal space has been encroached.
WHOSE NEGLIGENCE IS IT ANYWAY? It's quite disheartening to see that the people in our country don’t want to take responsibility, not even for their own life and its safety. An 18 yr old DU student driving a BMW crushes man at North campus , gets arrested and is charged under sections of rash driving and negligence. But should it not be seen as the negligence of that 50yr old man who didn’t bother to cross the road at a pedestrian crossing ? Why was he crossing a busy road expecting the people behind the wheels to take the burden of safety of his life ? Motor vehicles Act needs to look into this aspect and liability should be imposed on such people who are at fault for suddenly surfacing on the road and putting others on the hook. Calousness of such pedestrians has been recognised and is the core theme of most tyre advertisements. It’s about time that pedestrians start taking more responsibility and at the same time, it will not be wrong to impose legal liability on such defaulters who think they can cross the road anywhere, anytime and that too with a blindfold. KMLAWASSOCIATES , based at Dwarka, is a top rated Law firm in Delhi NCR and is renowned for its expertise in corporate and civil law. With over 30yrs experience, KMLAWASSOCIATES provides best legal advice and representation in most branches of law like NI Act, Matrimonial matters, consumer protection, real estate, landlord/tenant disputes, etc.
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