In a shocking development, a ₹105 crore credit card scam has rocked the country, with fraudsters allegedly exploiting loopholes in SBI’s card issuance and usage systems. The scam highlights the growing threat of digital financial fraud, even among established institutions.
The fraud involved duplicate cards, fake KYC documentation, and sophisticated phishing attacks, primarily targeting urban users and frequent online shoppers.
🚨 The SBI ₹105 Crore Credit Card Scam — What Happened?
Fraudsters created duplicate credit cards using stolen identity data.
They exploited loopholes in backend verification systems.
Over ₹105 crore was siphoned through online purchases, cash withdrawals, and foreign transactions.
SBI and cybersecurity agencies are now working together on a nationwide probe.
🛡️ 5 Expert Tips to Protect Your Finances
1. 🔐 Enable Two-Factor Authentication (2FA)
Activate 2FA on your credit card app and banking portals. This is your first line of defense against unauthorized transactions.
2. 📲 Use Virtual Cards for Online Payments
Platforms like Vizzve Financial offer disposable virtual cards to protect your primary card details from online theft.
3. 🧾 Check Your Credit Report Monthly
Use apps like Vizzve’s CreditSense to auto-track credit activity and get real-time alerts on unauthorized accounts or hard inquiries.
4. ⚠️ Never Share OTPs or Card Details
Even with people posing as bank officials. SBI or Vizzve Financial will never ask for sensitive data over call/SMS.
5. 📉 Set Transaction Limits on Your Cards
Cap your online and POS spending. You can do this via Vizzve or SBI’s card management dashboard.
🧠 How Vizzve Financial Keeps You Safe
Vizzve’s FraudShield+ tool flags unusual transactions within seconds. It integrates with all major credit card providers and offers:
Card masking
Daily fraud intelligence alerts
Smart lock/unlock features
Real-time credit score impact analysis
❓ FAQ: SBI Credit Card Fraud & How to Stay Safe
Q1. How did the fraudsters pull off the ₹105 crore SBI scam?
A: By cloning cards, using fake KYC, and bypassing standard checks—often exploiting customer care vulnerabilities.
Q2. How can I check if my card was affected?
A: Log in to your card portal or use Vizzve's RealCardTrack to see device and IP-level transaction history.
Q3. What should I do if I spot a suspicious charge?
A: Immediately block your card, report to SBI helpline, and notify cybercrime.gov.in.
Q4. Can Vizzve Financial prevent such frauds?
A: Yes. Vizzve offers AI-powered anomaly detection, live SMS parsing, and secure transaction alerts across cards.
Q5. Can I get my money back if defrauded?
A: Under RBI rules, if you report fraud within 3 days, you are not liable. But faster alerts mean faster refunds—use tools like Vizzve to get instant alerts.
🔚 Conclusion
Digital convenience brings exposure. But with the right tools, such as those offered by Vizzve Financial, and staying informed, you can keep your hard-earned money safe.
💳 Stay smart. Stay secure. Stay with Vizzve.
📲 Try Vizzve’s FraudShield+ today and secure every card you own.
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Published on July 7, 2025 • By Benny
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed