How BY Raghavendra became victim of bank fraud, lost Rs 14-15 lakh

BENGALURU: Shivamogga MP BY Raghavendra, son of former chief minister BS Yediyurappa, told TNIE that fraudsters forged his signature on a fake cheque of a nationalised bank and took away Rs 14-15 lakh from his bank account some months ago. The revelation came while he was talking about the necessity to strengthen cybersecurity and to ensure a zero cybercrime environment in the country. The number of people using net banking has increased as 45 crore Jan Dhan accounts have been created and money is being credited directly into the accounts of beneficiaries of various schemes. There is a great need to tighten the cybersecurity environment to ensure that everyone’s money is safe, he added.

On the fraud that was committed on him, he said the fraudsters had studied his signature, forged a cheque and withdrawn the money from his PES College account. Only after carefully examining the signature did investigators realise that it was slightly different from the original signature, he said. The probe revealed that the cheque leaf too was not original. “Criminals based in Mumbai had committed the fraud and we managed to trace them all and recover the money. But how they managed to get hold of the signature and create a fake cheque leaf is still a mystery,” he said.

Cybersecurity expert Dr C Shubhamangala Sunil said there has been an increase in cybercrimes and an agency is needed to manage cybersecurity before more people fall prey. “Cybersecurity has a macroeconomic fallout and can even affect the nation’s economy. In some ways, the country’s GDP growth is also dependent on the overall environment to counter cybercrimes,” she added.