He booked bus tickets online, money takes flight

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Bangalore, September 19:  Using online transaction for the first time proved costly for a city-based software engineer, as hackers dipped into his account, withdrawing Rs. 56,000 in a series of transactions.

Ramesh R. Magadi, who works in a city-based IT company had recently returned from the United States. Using his salaried account in Axis Bank, he made an online transaction to purchase two tickets from the Karnataka State Road Transport Corporation for a visit to Tirupati on July 27.

Two days later, when Mr. Magadi tried to purchase return tickets online, to his shock, he received a message stating that the funds in his account were insufficient.

Suspecting something fishy, he checked his account balance in Tirupati only to find that his account had been nearly cleaned out.

He immediately called up the bank which informed him that there were 27 online transactions made from his account on July 27.

Mr. Magadi filed a complaint with the bank which found that the online transactions were made from Jammu and Kashmir, Vadodara and Maharashtra. They were mainly for recharging mobile currency and payment of insurance premiums.

After running from pillar to post, bank officials told him that of the transactions totalling .Rs 56,186, transactions worth Rs 11,000 were unauthorised and would be reimbursed.

“How is it possible that while I am in Tirupati online transactions were made from across the country,” Mr. Magadi asked, adding that the bank officials had not even informed him about the transactions.

Mr. Magadi has filed a complaint with the Vidyaranyapura police.
Previous case

This is the second such incident of a bank account being hacked from Axis Bank. A retired Army official-turned-motor service centre owner had filed a complaint with the HAL police in June this year stating that his Axis Bank account had been hacked and money withdrawn.

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