Cheats find their way no matter what be the security. In the Himachal Pradesh State Cooperative Bank two staff –one clerk and another computer guy joined hands to withdraw Rs 14 lakh illegally.
In a recently held programme in Ahmadabad , effort to computerize the Urban Cooperative Banks was mooted in the presence of Sharad Pawar,Union Agriculture Minister. ATMs and internet banking all sound very nice but they also make way for easy fraud at the hand of technical cheats and frauds.
In the case of Himachal Pradesh State Cooperative Bank the computer man located a dormant account and transferred money from other accounts into it in collusion with a clerk. He also got a fake ATM made to withdraw the money.
It was the manual system of auditing which could at last catch the fraud. Computerization is indeed welcomed but we need to have such a fool proof system where such fraud is discouraged.