ONLINE FRAUD ALERT! Due to rapid increase in the number of online transactions we have seen that online fraud has also augmented in last few years. Online or internet use has taken a frontage part in our daily life due to increase in the number of digital transactions.
Increasingly people prefer online shopping or online banking transactions these days. This also gives scope to many fraudsters who steal the data and details including your debit/credit card number, CVV, OTP. These fraudsters then steal your money if you don't take necessary precautions. Mostly, victims of these online frauds are elderly people. However, the frauds are just not limited to elderly people.
Many fall victim of spam, spyware, theft, phishing and internet banking fraud. But, there is a good news as well. RBI has given strict guidelines that if a customer faces any online fraud from the banking site or linked merchant site then the bank has to pay the entire claim amount to the customer. According to the CERT (Indian Computer Emergency Response Team), in the year 2018 total number of online security incidents handled were 2, 08,456. And at present, the numbers of incidents are much more in figures and cyber security has become a major concern.
If you are also the one who has been the victim of online transaction fraud, then no need to worry anymore. We are here to guide you through few simple ladders to get rid of online financial frauds.
Debit card/Credit card online Fraud:
• As soon as you come to know that some suspicious activity has been done in your account through online card, then immediately call the customer care and block your card.
• Inform your bank formerly about the online fraud as soon as possible before going to the police station.
Process of filing online fraud complains:
• Remember that before filing any complain related to online transaction fraud, you must have all required documents to prove your claim.
• Bank statement showing at least six months online transaction is must to illustrate.
• All SMS which contains proof of online fraud and amount deduction should be with you.
• Customers ID and address proof is must to submit.
• Try to lodge your complain/FIR at your nearest branch or police station with financial fraud proofs.
• In case police refuses to file the case one can move towards the court under Section 156(3) of Cr. PC.
• Keep a screenshot of all malicious apps along with the location.
FIR Process and Liability:
• One can file a case directly to the Cyber Cell, but to inform your nearest police station is the first step to follow and suggested.
• As per RBI’s strict new rules, if the online fraud happens due to the negligence of the bank side, then customer is not liable to pay.
• Also, RBI states that if online fraud happens due to the third party (ATM scammers, Malware sites, Public Wi-Fi) where neither the bank nor the customer is involved, and within three days customer informs his or bank, then in such case also customer is not accountable to pay the liable amount.
• Never increase and ignore the days to complain. As long as you delay you will be liable to pay the amount after three days of fraud.
• Keep the record and FIR copy of the case safe to prove the fraud.
• If the amount debited is because of customers fault and negligence then in that case one has to face the loss.
• Due to negligence while putting wrong password or account information, if within seven days customer informs the bank about the online mistake, then at this situation the customer is liable to pay only some limited amount as set by the RBI (Per Transaction).
• According to RBI, “Customers shall be advised to notify the PPI (Prepaid Payment Instruments) issuer of any unauthorised electronic payment transaction at the earliest and, shall also be informed that longer the time taken to notify the PPI issuer, higher will be the risk of loss to the PPI issuer / customer.”
• PPIs are the digital wallets which we use like Mobikwik, Oxigen, EasyPay, Amazon Pay etc.
• As per the RBI rules, after the notification and complain done by the customer the bank has to resolve the case within 90 days of period, which starts from the date of complain done by the customer.
• The unauthorized amount debited will be reverse within 10 days of the time period by the bank itself to the customers.
Always try to avoid downloading unknown sites and apps on your phone or laptops. Never use public Wi-Fi connection for any personal use. Also, never click on any unknown link related to your OTP or transaction details sent on your email, and beware of the cloning apps and links. If you are online savvy or one who does all types of transaction online, then try to take cyber insurance plans for more security. So, by just keeping yourself alert and following some simple financial tips one can get rid of online fraudulence.