Complaint against company for fraudulent use of credit cards
23-Aug-2023 (In Banking / Finance Law)
Hello Sir/Madam, On 20th April 2018, at around 11 AM, I had received a call, where the person claimed to be calling on behalf of my bank. The Person asked for my card details stating that the card might get expired if not taken care of. I shared the details, but later in the day, I realized my mistake and called my bank to confirm. I got my cards blocked and registered a police complaint within 3 days of the fraud. Please provide legal guidance to me in this regard.
The Banks and other media it is been very regularly posted not to share your bank or credit cards detail to anyone who calls on their behalf as they are never going to ask such details from the customers. Nevertheless, you lodge an FIR and also file complaint with cyber cell and provide the detail of Number from which you received this call. Good thing is that you have instructed banks to block your card.
Customer to get full refund
Banks will pay for the entire loss in the following cases.
1. When a fraudulent transaction has happened due to deficiency or negligence on the part of the bank irrespective of the fact that the customer has reported it or not. "A digital transaction goes through various intermediary platforms such as the payer bank, the payee bank, the payment gateway, etc, and the transaction has to be encrypted. No data should be stored with either of the intermediaries but only transferred. Therefore, if a fraud happens during this process, the customer should not be held liable. As per RBI recommendations, the bank will have to refund to the customer," says Mehta of Deloitte Haskins and Sells.
2. When there is a third-party breach where the deficiency lies neither with the bank nor the customer but with the system somewhere else and the customer notifies the bank regarding the transaction within three working days.
Banks will pay for the entire loss in the following cases.
1. When a fraudulent transaction has happened due to deficiency or negligence on the part of the bank irrespective of the fact that the customer has reported it or not. "A digital transaction goes through various intermediary platforms such as the payer bank, the payee bank, the payment gateway, etc, and the transaction has to be encrypted. No data should be stored with either of the intermediaries but only transferred. Therefore, if a fraud happens during this process, the customer should not be held liable. As per RBI recommendations, the bank will have to refund to the customer," says Mehta of Deloitte Haskins and Sells.
2. When there is a third-party breach where the deficiency lies neither with the bank nor the customer but with the system somewhere else and the customer notifies the bank regarding the transaction within three working days.
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