Supreme Court Slams Banks on $7 BN Scam Losses
Edited By WION Video Desk
Published: Feb 11, 2026, 17:21 IST | Updated: Feb 11, 2026, 17:21 IST
India's Supreme Court sharply criticized major banks for failing to detect suspicious transactions in scams totaling ₹58,000 crore ($7 billion), questioning why systems like UPI frauds went unflagged despite RBI alerts. Chief Justice Sanjiv Khanna highlighted systemic lapses allowing cyber frauds to surge, with over 10 lakh victims last year alone.
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