Aryan in an online transaction did a purchase of Rs. 500/-. Within an hour of the
transaction, he received a message of a transaction of Rs.1 lakh done on his card. Aryan
realized that someone has fraudulently used his card for online shopping. He immediately
reported the matter to the bank manager. The manager expressed his inability to resolve the
matter due to lock down leading to poor service. 4
a. Identify the best remedy available to Aryan:
I. File a civil case
II. File a complaint with Ombudsman
III. File a complaint with Lokpal
IV. There is no remedy
b. The typical duties of the above are:
I. To resolve disputes by sending them to Lok Adalat
II. To resolve disputes through Arbitration
III. To resolve disputes through Mediation
IV. To protect the interest of the institution against people’s complaints
c. Under the Lokpal and Lokayukat Act, 2013 the powers of the Lokpal can be related to
which of the following personnel?
I. Lokpal has inquiry and investigative powers of Central Vigilance Commission.
II. Lokpal has powers equivalent to that of President of India.
III. Lokpal is not a strong institution and has no powers.
IV. Lokpal can only recommend to the government of India to initiate enquiry like a civil
body
Answers
Answer:
Cybercrime is a crime that involves a computer and a network.[1][2] The computer may have been used in the commission of a crime, or it may be the target.[3] Cybercrime may harm someone's security and financial health.[4]
There are many privacy concerns surrounding Cybercrime when confidential information is intercepted or disclosed, lawfully or otherwise. Internationally, both governmental and non-state actors engage in cybercrimes, including espionage, financial theft, and other cross-border crimes. Cybercrimes crossing international borders and involving the actions of at least one nation-state are sometimes referred to as cyberwarfare. Warren Buffet describes Cybercrime as the "number one problem with mankind"[5] and "poses real risks to humanity."[6]
A report (sponsored by McAfee) published in 2014 estimated that the annual damage to the global economy was $445 billion.[7] A 2016 report by Cybersecurity ventures predicted that global damages incurred as a result of cybercrime would cost up to $6 trillion annually by 2021 and $10.5 trillion annually by 2025.[8]
Approximately $1.5 billion was lost in 2012 to online credit and debit card fraud in the US.[9] In 2018, a study by the Center for Strategic and International Studies (CSIS), in partnership with McAfee, concludes that nearly one percent of global GDP, close to $600 billion, is lost to cybercrime each year.[10] The World Economic Forum 2020 Global Risk report confirmed that organized Cybercrimes bodies are joining forces to perpetrate criminal activities online while estimating the likelihood of their detection and prosecution to be less than 1 percent in the US.[11]