What to do if become the victim of Payment card fraud

  • Do not ignore the SMS!
    • Generally, Transaction notification is received by SMS.
    • Evidence regarding unauthorised transaction from your account.
  • Note the Date and time of transaction mentioned in the SMS, date and time of the SMS

    received’ amount of every transaction
  • Note the Source mentioned in SMS, i.e., payment card used via
    • Online payment,
    • Digital Payment Apps,
    • ATM, etc.
  • Immediately inform the card issuer regarding the unauthorised transaction along with the

    above listed information.
  • Register the complaint in the bank regarding the unauthorised transaction provide the all

    above necessary information.
  • Swipe your card at nearest ATM of Issuing bank/agency to prove your location.

How to register the complaint in Bank;

  • Call Customer care Centre,
    • Provide necessary details like;
      • Card Number, Number of Transactions, Amount of each transactions, You full Name,

        Address, Date of Birth,
    • request to the block the card,
    • Visit the nearby branch of issuing bank/agency.
      • Show the SMS(s) received regarding the Transaction(s).
      • Carry your ID proof as mentioned in the bank record.
      • Ask for the statement,
      • Check the transaction,
      • Report the unauthorized transaction.
  • After informing the bank, file a written compliantin the nearest police station/cyber cell.
  • File the complaint mentioning the transaction, date, location.
  • As your personal data has been used for committing the fraud, mention section 72A, IT Act so that the source of data can be made liable, i.e. whether it is a bank or any other intermediary.
  • As transfer have been made online by accessing your account, invoke section 66, IT Act against the offender.

Liability in case of fraudulent transaction

  • Fraud committed by a third-party through an act of skimming, etc.,
    • As per the RBI rules,
      • Customer is not required to pay any amount if the breach has been reported within

        three days of the unauthorized/fraudulent transaction.
      • A transaction reported after three days but within seven days, the per transaction

        liability of the customer will be limited to the transaction value or an amount set by

        the reserve bank, whichever is lower.
    • And, if you take more than seven days, “the customer liability shall be determined as per

      the bank’s Board approved policy,”
  • If the bank refuses to give the payment, pursue the FIR with the police or through court and

    also prosecute the bank U/S 72A, IT Act.

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