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CREDIT CARD FRAUDULENT TRANSACTION
30-Jan-2026 (In Cyber Crime Law)
There was a fraudulent credit card transaction. Reported to Bank in 13 minutes of transaction & also cyber crime in 2 hours. OTP WAS taken through deception/ fraud/ phishing . RBI Ombudsman has rejected our claim & supported Banks stand of Valid OTP
Need to file case to recover fraudulent amount with maximum transaction
Even where OTP was fraudulently obtained through phishing, the customer’s liability is not absolute if the fraud is promptly reported, as in your case. RBI guidelines recognise zero or limited liability where there is no gross negligence and immediate reporting. Rejection by the Banking Ombudsman does not bar you from filing a consumer complaint for deficiency in service or a civil suit for recovery of the fraudulent amount with interest and compensation. You may also pursue the cyber crime investigation to trace beneficiaries and strengthen your recovery claim.
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Adv. Hemalatha Narayanan
Chennai | 100+ Answers
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