Strictly deal with fraud from financial institutions: Karnataka HC


Karnataka: In landmark judgment, Karnataka High Court upheld the dismissal of a bank employee for fraudulently withdrawing money from a customer’s account, stating that any crime related to a financial institution, even a minor , should be taken seriously and treated harshly.

During the hearing of a case filed by a bank employee challenging the single bench order on his dismissal, a division bench led by Chief Justice Ritu Raj Awasthi and Judge Sachin Shankar Magadum made this observation. On January 19, 2007, the single judge overturned the order of the central government labor court, which had overturned the decision to dismiss the employee.

The employee had opened a savings account and deposited money for a customer he knew. The client later protested to the bank, alleging that the accused was withdrawing funds from his account.

The court based its decision on allegations in the indictment that the accused bank employee wrote a letter claiming he was forced to wrongly withdraw money due to financial hardship. The court upheld the Single Chamber’s ruling, saying that fraud by bank staff has become a global concern.

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