Credit card fraud is becoming increasingly common in India, with scammers using phishing, skimming devices, fake websites, and unauthorized online transactions to steal money.
If you notice suspicious activity on your credit card — even a small unknown transaction — it’s critical to act immediately.
Here are the five most important steps you need to take to protect yourself from financial loss.
1. Immediately Block Your Credit Card
This is the first and most crucial step.
You can block your card through:
Mobile banking app
Net banking
Customer care helpline
SMS (for some banks)
Blocking stops further unauthorized transactions instantly.
2. Call Customer Care & Report Fraud
Once the card is blocked, inform your bank’s customer service and officially report the fraud.
Provide details such as:
Transaction amount
Date & time
Merchant name
Whether you shared any OTP or card data
Banks usually start a fraud investigation immediately.
3. Raise a Dispute/Chargeback
Ask your bank to open a transaction dispute.
A chargeback allows the bank to:
Investigate the fraudulent transaction
Temporarily reverse the amount (in some cases)
Recover your money if fraud is confirmed
Make sure you receive a complaint number.
4. Change Your PIN, Passwords & Online Banking Credentials
Fraudsters may have accessed:
Your PIN
CVV
Internet banking login
UPI or payment app linked accounts
Reset immediately:
Credit card PIN
Net banking password
Email password (if linked to OTPs)
App login PINs
This reduces the risk of future breaches.
5. File a Police Complaint (If Amount is High)
For significant losses, file:
An FIR at your nearest police station, OR
An online cybercrime complaint via the national portal
A police report helps strengthen your case during chargeback review.
Bonus: How to Prevent Credit Card Fraud
Never share OTP, CVV, or PIN
Avoid using public Wi-Fi for payments
Use virtual credit card numbers for online shopping
Enable transaction alerts for every swipe
Do not click on unknown links or QR codes
Regularly check statements for suspicious activity
Staying alert is your best protection.
FAQs
1. Will the bank refund money lost to credit card fraud?
Yes, if you report quickly and did not share OTP/PIN, banks often process a refund after investigation.
2. Should I cancel the credit card?
Blocking is enough. The bank will issue a new card automatically.
3. What if the fraud happened without OTP?
International transactions and recurring payments sometimes don’t require OTP — dispute them immediately.
4. Is a police complaint required?
Only for large fraud amounts or at bank’s request.
5. How soon should I act?
Within minutes — delays reduce your chances of getting money back.
Published on : 26th November
Published by : SMITA
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