Online Transactions Frauds

In such matters, the complainant alleges that some unknown person had withdrawn money/ made transactions through his/her credit/debit cards through online purchasing.

In most of these cases purchasing is done by using following crucial information of the credit/debit card :

  • The 16 Digit Credit/Debit Card Number
  • The validity of the Credit/Debit card
  • The 3 digit confidential Card Verification Value (CW) or the One-Time-Password (OTP) sent on the registered mobile number of the Debit Card holder.

While it may be that the Card Number and the validity of the card is made available to the fraudsters through insider in the bank, the OTP is procured by them by deceiving the account holder to share the OTP on the pretext that it is required for account verification, etc.

Preventive Measures/Precautions

  • Don’t give your account number to anyone on the phone unless you’ve made the call to a company you know to be reputable. If you’ve never done business with them before, do an online search first for reviews or complaints.
  • During a transaction, keep your eye on your card. Make sure you get it back before you walk away.
  • Monitor your bank and credit card statements.
  • Monitor your credit report.
  • Never store Credit Card information online.
  • Never make use of Credit Card on Public Computer.
Advise for Victims
  • The credit/debit card holder or account holder should lodge a complaint with the concerned bank and block the card or account immediately.
  • Information should be collected from the concerned bank regarding the mode /description of the transaction.
How to make a Complaint?
  • Collect Bank statement of the last six months from the concerned bank.
  • Make a copy of SMSs received related to the alleged transactions.
  • Take copy of your ID proof and address proof as shown in the bank records.
  • Lodge a complaint in your nearest Police Station explaining complete incidence along with the above documents.