Misused Credit Card

[b1c11ap]

While I was sitting in my office about a week before I received 4 consecutive sms'es from the bank informing me of purchases worth Rs xx,xxx.xx. These were made in foreign currencies. The amount is substantially high. The card is in my possession only and was with me while this happened. I duly informed the bank within 5 minutes and they blocked the card. On their advice I filed a complaint with local crime branch.

I sent copy of the complaint to bank with a covering letter denying these purchases, and also appearing in person with the local branch of the bank proving I had not traveled  out of India. I also denied my responsibility of the payment, since I had not authorized these transactions.

the latest statement shows the amounts. I received a letter from bank in response to my letter; where they stated that They are taking up the matter with Visa. They have also asked a copy of FIR and Final Investigation Report from police authorities. They say that based on these two documents they will get insurance from XXX  XXX company.

please advice my role in this. I have already cleared the legitimate balance on my card. I am worried about not getting the FIR and/or final investigation report copy from police; without spending valuable time in their offices.

and lastly ; any idea how this would have happened; even with secured payment gateways, and all?

thanks and regards.

[cardbhai]

1. Sure You have Done your Best. Read what the RBI Documents say on Consumer Rights During Credit Card Fraud in India Read all Related Articles on that page

2. Payment Gateways are Secured. However, your Credit Card Number & Expiration dates are Captured by some merchants which is a Big Security Threat. I asked RBI what are the rules in capturing this data but they had not answer and replied that Banks should take adequate care to ensure safety of consumers. So Data may have been leaked from one of the Websites or Retailers who had stored your Credit Card Details on File and Passed it on to International Hackers Ring.

3. You should not Worry as we have Verified by Visa and Secured MasterCode Guidelines in India so if you have really not done this transaction, you need not worry.  [I have seen instances where the CC Owner has shared his card details and later disputed the charges and subsequently caught in the investigation]

[b1c11ap]

Thank you for the word of advice.

regards.