KNOW YOUR RIGHTS (IN INDIA) IN FRAUDELENT CARD TRANSACTION/S

KNOW YOUR RIGHTS (IN INDIA) IN FRAUDELENT CARD TRANSACTION/S
Indian Newspaper, The Times of India’s View:
            “The sheer frequency of these frauds-and the ease with which they are done across the globe-makes things scary. Unfortunately, criminals in most cases seem to be a step ahead of service providers. What makes things worse is the evident lack of support a victim gets at the police station. Both cops and service providers need to be more proactive in helping every victim. Reactions in most of these cases differ markedly from the alacrity of the response when cops themselves are victims.”
Individual’s Role:
COP’s can’t avoid filing FIR (First Information Report).
For this, customer has to write a written application for a complaint based on which the police have to register an FIR, says Indian Cyber Expert Lawyer, Shri Vicky Shah.
Bank’s Role:
Banks are supposed to collect all relevant records of transactions made with the credit card and hand over the information to the Law Enforcement Agencies concerned for a probe.
Under RBI (Reserve Bank of India) guidelines, banks also have to lodge a complaint with the LEA.
CURRENTLY Banks are in the process of upgrading all the Credit and Debit Cards with Chip Based Technology.
Polices’ Role:
The police must immediately register an FIR on receiving a complaint from the credit card or debit card holder or victims.
They must also contact the bank for relevant information on the sequence of the fraud as well as the details of the victim/s.


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