How to report a credit or debit card fraud?


Online credit/debit card fraud has been increasing rapidly now a days. Everyone owns a card these days. Cyber Criminals have been finding new ways to steal card information, later which they used for doing fraudulent transactions.

We must keep an eye on our phone to see any suspicious sms alert, or must check our bank statement.

If you found any transactions that is not made by you, then do the following things immediately.

  • Block your Debit/Credit Card Immediately.

Know how to block your card from here.

  • File an FIR in your nearest Police Station and also take copy of your FIR.
  • If the transaction has been made online, install a good anti-virus and scan for any malwares or viruses in your PC.
  • Also change your ATM pin.
  • Block and issue a new card.
  • Reduce your liability.

The user is not liable for the amount lost, if he is not aware of the fraudulent transaction. As per the notification issued by RBI on July 6th, 2017, it has revised the norms to limit the liabilities of a fraud victim.

a) Zero liability

A customer is entitled to zero liability in case fraudulent transactions occur in the following events:

1. Contributory fraud/ negligence/ deficiency on the part of the bank (irrespective of whether or not the transaction is reported by the customer).

2. Third party breach where the deficiency lies neither with the bank nor with the customer but lies elsewhere in the system and the customer notifies the bank within three working days of receiving the communication from the bank regarding the unauthorized transaction.

b) Limited Liability of a Customer

In cases where the loss is due to negligence by a customer, such as where he has shared the payment credentials, the customer will bear the entire loss until he reports the unauthorized transaction to the bank. Any loss occurring after the reporting of the unauthorized transaction shall be borne by the bank.

Source: RBI

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