Report Fraudulent Transactions

07 December, 2023

Online banking has increased the level of convenience in financial transactions. This convenience sometimes brings in financial fraud, leading to monetary losses and compromised personal information.

If you or your near ones have faced incidents of fraud, you should not panic. Instead, minimise the damage and stop future losses by filing a complaint for fraudulent transactions. Additionally, you should know how to identify and report such transactions to ensure your financial well-being.

What are fraudulent transactions?

Fraudulent transactions refer to unauthorised activities executed for obtaining financial gains through illegal means. These transactions are operated using Credit Cards, Debit Cards, online banking, mobile wallets, etc.

Fraudsters often use different cyber-fraud techniques such as phishing, identity theft, card skimming and social engineering. These tactics allow them to gain access to sensitive information and initiate unauthorised transactions.

Types of fraudulent transactions

1. Credit / Debit Card fraud: It involves unauthorised use of your Credit Card or Debit Card details to make purchases or withdraw money from your account. It can be carried out via stolen Credit or Debit Cards, card skimming devices, and online data breaches.
   
   

2. Phishing scams: Fraudsters may send you fake e-mails and messages. They can also make fraudulent phone calls. They pretend to be legitimate organisations and try to extract personal and financial information from you.
   
   

3. Identity theft: Criminals might steal your personal information like permanent account number (PAN), aadhaar card details and passwords to invade your privacy and commit fraud. Once your identity is stolen, all frauds are made in the name of the stolen identity.
   
   

4. Online banking fraud: Fraudsters gain unauthorised access to your online banking account and initiate transactions without your knowledge. It can even include UPI transactions. In both these cases, you can file an online transaction fraud complaint.
   
   

5. Fraud on e-commerce platforms: Fraudsters use stolen card information for online purchases. Additionally, they can make false claims for not receiving goods / services to claim them for free. This type of fraud brings losses both to the online sellers and buyers.
   
   

Key steps to file a complaint against fraudulent transactions

You must file a complaint with HDFC Bank regarding fraudulent transactions. This will ensure that your losses are recovered and fraudsters are punished. Following are the steps you will need to file your complaint:

2. Contact your bank: If you notice any suspicious or unauthorised transactions in your bank account, immediately contact HDFC Bank's customer care or visit the nearest branch.
   
   HDFC Bank has a dedicated fraud reporting hotline for online transaction fraud complaints. Provide them with the transaction details and other relevant information. If the transaction has been done through UPI, you should report fraudulent UPI transactions.
   
   

3. Block cards and accounts: You should immediately ask HDFC Bank to block your card to prevent further unauthorised use. Similarly, if your online banking account information is leaked, you should change your credentials immediately and inform the bank to secure your account.
   
   

4. Lodge an FIR: Visit your local police station to file a first information report (FIR). This legal document will be required for further investigation. The FIR will also provide an official record of the incident.
   
   

5. Inform cyber cells: Reach out to the cyber crime cell with relevant details of your fraudulent transaction. They are experienced in handling cybercrimes and will take appropriate actions. Your nearest police station may also guide you on filing a fraudulent transaction complaint to the cyber crime cell.
   
   

6. Notify the RBI: If the fraudulent transaction involves a financial institution or service regulated by the Reserve Bank of India (RBI), inform the RBI about the incident through their dedicated channels. Details regarding the RBI fraud transaction complaint are available online.
   
   

7. Notify consumer forums: For fraudulent transactions through an e-commerce platform, lodge a fraud transaction complaint with the National Consumer Helpline, a consumer forum.
   
   

8. Check credit bureaus: Regularly check your credit score. If you find any unauthorised transactions, inquiries or suspicious activities, it could indicate financial irregularity or fraud.
   
   

9. Stay updated: Cyber fraudsters find new ways and mechanisms to carry out their fraudulent schemes. You need to keep yourself informed about the latest scams and frauds that are popular in the digital space. This knowledge will help you identify fraud and avoid potential threats.
   
   

How to protect yourself from fraudulent transactions?

You can protect yourself from fraudulent banking transactions by staying aware. Here are the essential tips that you should follow:

1. Stay informed about common fraud tactics and scams.
   
   
2. Avoid sharing sensitive details over unsecured channels.
   
   
3. Verify the identity of callers or senders of emails before sharing information.
   
   
4. Use complex passwords and PINs that are difficult to guess.
   
   
5. Do not click on links or download attachments from unknown sources.
   
   

HDFC Bank's Vigil Aunty spreads awareness on fraudulent transactions

HDFC Bank’s Vigil Aunty is always at the rescue of HDFC Bank customers. She is a superhero influencer who spreads awareness regarding the various aspects of fraud.

Vigil Aunty will educate you about prevention techniques and assist you if you are a fraud victim. Besides her assistance, you can contact HDFC Bank’s customer care or visit your nearest branch if you need any assistance in fraud-related matters.

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.