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SBI LOSES MASSIVE AMOUNT AS FLIPKART USERS GET DOUBLE REFUND

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SBI loses ₹7 crore as Flipkart users get double refund

State Bank of India suffered a major loss of ₹7 crore after 39 account holders were found to use a trick to earn double refund credit after cancelling online orders through popular e-banking platform Flipkart, reports Financial Express.

The incidents were reported from Mehsana, Patan and Ahmedabad districts of Gujarat where users got a double refund - once from SBI and again from Flipkart. The anomaly is said to have reportedly been caused by a new VISA update.

 

Tags : #ONLINEFRAUD

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