An unsecured or incorrectly secured fault was received from the other party

This error normally occurs when the Time Zone of the server and the client are different.

The remote server and the client's system time must be within 10 minutes of each other.

Solution 1:

So One Temporary solution was to change the TimeZone as well as the Time to the time currently on the server.

Solution 2:

Was to include the following security node under the binding of custom binding element.

<security authenticationMode="Kerberos">
   <localClientSettings maxClockSkew="00:07:00" />
   <localServiceSettings maxClockSkew="00:07:00" />
   <secureConversationBootstrap>
      <localClientSettings maxClockSkew="00:30:00" />
      <localServiceSettings maxClockSkew="00:30:00" />
   </secureConversationBootstrap>
</security>