How to Handle Fraud Bank Transaction?

Very recently I faced a fraud bank transaction when someone hacked into my bank account created a fake debit card and did a transaction. When I received the alert I was totally clueless since I was working I totally ignored it. In the evening when I logged in to my internet banking and checked then rechecked the account and here it was, that one transaction which I didn’t do.

What to do next?

• Call customer care immediately.
• Check for your debit or credit cards.
• Try and remember any pending online transaction that you did or scheduled.

So I did all these in similar sequence though sequence should be reversed. The bank informed me that the manual swipe transaction was done early in morning. I came to know about the security features and bank quick action team which I was totally unaware of. Before my call only they’ve started securing my account by immediately blocking my card and left a message for me to contact the bank immediately. I’M SO IMPRESSED!!! THANKS, ICICI Bank.

• They confirmed my identity
• Immediately Blocked my card and account (before that they even helped me in transferring some funds to alternative account till the time my account gets functional again, so thoughtful)
• Placed a request for new debit/credit card.
• Change internet banking password
• Generated a service request (SR number)
• Gave me a link to download CDF (card dispute form) to be filled and submitted to any nearest branch with following documents:
  • ID proof
  • Front of credit/debit card
  • Picture of the transaction (message/ email)
  • SR number
  • Telephone bill/ HR statement/ Police statement (for location confirmation)

The investigation is immediately started in the fraud and security team of banks and it takes 23 working days to resolve it. The amount would be refunded after that.

Security features of our card:

• Embedded chip (it’s traceable)
• CVV number at the back of the card.

How to avoid frauds?

• Always update the phone number or email id so that you could receive notifications.
• Never disclose your internet banking details to anyone
• Never share your passwords or PIN number
• Never leave your credit or debit cards unattended
• Never keep passwords written with the cards
• Never login in unknown browser
• Always keep 2-way authentication on so that OTP is asked for
• Never save passwords on the browser
• Use internet banking in incognito mode
• Never share your MICR number
• Your personal details and secret questions are to be kept safe
• Do not keep the signed chequebook
• Report any suspicious activity to customer care or police immediately

Don’t think that amount was less so you could let go. After first fraud transaction that too with a fake card since mine was in my wallet, I blocked everything and next morning I woke up with 7 “credit request declined” messages, so 7 subsequent attempts were made to withdraw money from my account which was thankfully blocked by ICICI bank. My ordeal is still going on I pray it ends well at least for me. I’m Thankful to my bank for its quick action and security features.

My Advice: Extreme caution to be used with banks details nowadays.

I hope my post would help people who are facing the same problem and making people aware and cautious.

Disclaimer: I am participating in the #SuperBloggerAcademy Linky party by Healthwealthbridge Dr.Amrita and allaboutthewoman.com Dr.Bushra