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Victim of card fraud? Things you must do immediately

IamCheated.com Research Team | September 13, 2019  6:57:pm

Debit and credit card usage is rising in India. These cards are accepted at almost all places. You can use your debit and credit cards to make payments at restaurants, supermarkets, hospitals, pubs, medical shops and so on. Nowadays, debit and credit cards are accepted even at small shops like Kirana stores.

While these cards are widely used, card frauds are also on the rise. Criminals employ various tricks to carry out card fraud and steal money from the bank account of innocent people. Card fraud is one of the major bank frauds. Even though the government and banks have been taking many initiatives to prevent card fraud, it still exists.

In India, many people have fallen prey to card fraud and lost lakhs of rupees. Unfortunately, not everyone who loses their money to card fraud is aware of the steps to be taken to get the money back.  So in this blog, we will discuss the things which need to be done immediately, if you are a victim of card fraud.

1. Report to banks

In case you are a victim of card fraud, the first thing you must do is report this to your bank and get your card blocked immediately. Blocking the card helps avoid further fraudulent transactions. If at all the fraudulent transactions have taken place due to your negligence, then the entire loss has to be borne by you, until you report the fraud to the bank. So, it is advisable to report the fraud as soon as possible. When you call the bank, you must clearly explain what exactly had happened. If required, you can even record the conversation of you reporting the fraud to the bank.

You will find the customer care number of the bank on the back of your credit card or the official website. Never rely on the customer care number which comes up on Google as it might be a fake.

As discussed earlier, if the fraudulent transaction has taken place due to your negligence like sharing of card details and OTP, the bank will not refund the money. If the fraudulent transaction has taken place due to card cloning or any defect in the system, your liability will be zero if you report it to the bank within 3 working days.

2. File a police complaint

After you get your card blocked by contacting the bank, the next step is to file a police complaint at the nearest police station. Your FIR will serve as an official document on the fraud. In order to get justice from the bank, you have to file a police complaint irrespective of the transaction amount.

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