Online Banking fraud
3 months ago
Today (On 18th Jan) unauthorized transactions were made from my Axis Bank savings account whereby a personal loan disbursement credit of 373,995 was made at 1:25 PM IST today without my authorization against which i immediately had called on the customer care number 1800 103 5577 at 1:38 PM IST to report the same. By the time, my call got answered at 2:17 PM IST, there were couple of unauthorized debit transactions of 1,90,000 and 193,000 were made at 1:39 PM IST. I have not shared any PIN or OTP with any known or unknown person with any effect and unauthorised transactions are purely carried out from my bank account without my knowledge and consent. Now bank is asking me to pay the personal loan disbursed. Can you please help whether i am responsible to pay this unauthorized pre-approved loan disbursement which was processed on account of fraud? I have reported the case in cybercrime for the same.
You may follow up the cyber crime police or approach the High Court to bring pressure on the Police in respect of the above incident.
As per RBI guidelines on the subject, If someone has fraudulently withdrawn money from your bank account, inform your bank immediately. When you notify the bank, remember to take acknowledgment from your bank. The bank has to resolve your complaint within 90 days from the date of receipt. If the transaction has happened because of your negligence, that is, because of your sharing your password, PIN, OTP , etc., you will have to bear the loss till you report it to your bank. If the fraudulent transactions continue even after you have informed the bank, your bank will have to reimburse those amounts. If you delay the reporting, your loss will increase and it will be decided based on the RBI guidelines and the policy approved by your bank's board. So, when you have already taken the required steps and there is no deficiency on your part, the Bank is duty-bound to resolve your complaint following the guidelines of RBI. However, on facing an arbitrary and unethical approach of the Bank asking you to pay the unauthorized pre-approved loan disbursement instead of resolving your complaint, you may post a complaint in detail against the Bank to strengthen your claim to RBI online on its grievance redressal portal under the integrated Banking Ombudsman Scheme at https://cms. rbi.org.in for a quick resolution in the matter.
First, ensure you've documented all communication with the bank, including dates and times. Report the incident to the police and obtain a copy of the FIR. Additionally, file a formal complaint with the banking ombudsman. Provide all evidence of unauthorized transactions and emphasize that you didn't share PIN or OTP. Notify the bank in writing about the fraud and request a detailed investigation. Keep records of all correspondence. Consult with a legal professional for advice specific to your situation, as laws can vary. Remember, timely and thorough documentation is key in resolving such matters.
Thankyou
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