Reporting a fraud

Any unauthorised transaction that is not approved or sanctioned directly by the account or card holder is considered to be a fraudulent transaction. With the increase in the digital financial transactions, the risk of frauds cannot be ignored. A fraudulent online could be because of e-mail spoofing, phishing or due to cloning of the card.
What steps to take in case of a credit/debit card fraud?
The moment you come to know that a suspicious transaction has been done on your credit/debit card, inform the card issuer immediately. One should lodge a formal complaint with the bank and ideally call up the customer care number immediately, to block the card or the account immediately.
How to report the fraud and file a complaint?
a) Net banking, ATM related transactions
If you suffer a fraud related to net banking, ATM transactions, or any other online transaction, the first and immediate thing to do is lodge a FIR with the nearest Police station and get a soft copy and hard copy of the complaint and the acknowledged letter of intimation of event. This is the main document based on which your complaint will be entertained. Next you file a formal complaint with all the details to the Customer care email id.
Before filing a written complaint with the bank or the card issuer, make sure the following documents are handy:
  • Bank statement of the last six months of the concerned bank
  • Copy/ies of SMSs received related to the alleged transactions
  • Copy of your ID proof and address as mentioned in the bank’s records
  • Copy of the FIR
What happens next? 
Having informed the bank, as per the RBI rules, the resolution has to be over within 90 days. Banks have to credit or reverse the unauthorised electronic transaction to the customer's account within 10 working days from the date of notification by the customer.
b) UPI related transactions:
A UPI fraud takes seconds. A person can lose lakhs in a moment. As soon as you realise that a suspicious bank activity has taken place or that you have been a victim of a UPI scam, start to collect all possible evidence. Take screenshots of the transaction, note the transaction ID, beneficiary’s bank account details, phone number of the fraudster, etc.
  • Download any UPI bank app, link your account and change the UPI PIN using your debit card details
  • Get your account blocked for UPI transactions and report the transaction by calling the Bank or writing an email providing all the evidence. They will verify your identity by asking some personal details before finally blocking your account. It’ll stop future UPI transactions. 
  • If you are using a payment platform like PhonePe, Google Pay, PayTM, etc- call on the toll-free number to submit your complaint.
What happens next?
The Reserve Bank of India (RBI) has launched an Ombudsman scheme which specifically deals with digital transaction issues. You can send your complaint in writing with the Ombudsman for Digital Payments. A form is also available on RBI’s website which you may use to file a UPI fraud complaint.
c)Internet and Mobile banking transactions
In case you suspect you have become a victim of internet or mobile banking fraud you can report the transaction using the below options:
  • Call the Bank on the Phone Banking numbers and report the fraud
  • Lodge an FIR with the nearest with the nearest Police station and get a soft copy and hard copy of the letter of intimation of event as well as the FIR.
  • Send the Bank an email with screenshots of the SMS you have received, transaction IDs etc
  • If possible, visit your nearest Bank Branch to report the fraud, fill the necessary Customer dispute form and submit the copy of the FIR. You will also have to submit an incident letter giving all details of the fraudulent transaction.
What happens next?
Your access to Internet / Mobile Banking Application will be blocked immediately. If you permit or require, a temporary credit will be issued in your account in a week from the date of reporting the fraudulent transaction. To take the investigation further, the Bank officials may ask for some documents from you. The regulatory prescribed timeframe is up to 90 days for the Bank to provide an appropriate resolution.