Fraudsters siphon off ₹8 lakh from credit cards in Mumbai. How can cardholders stay safe from such scams? | Mint

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A case has come to light wherein scammers used credit card details to siphon off 8 lakh. A series of fraudulent transactions took place between May 3 and May 30 and after a complaint was made by the bank, a case was registered by BKC (Bandra Kurla Complex) Police on July 11 against the scammer.

How did this fraud take place? The cardholders received calls from scammers who, posing as officials from the telemarketing department of the bank, asked the cardholders to share the card details so that the new card(s) could be issued to them.

After cardholders shared their details, the scammers took out money from their accounts. This was in the range of 20,554 to 1.42 lakh, reported The OXBIG NEWS NETWORK.

How to save yourself?

It is important to stay safe amid a flurry of fraudulent transactions happening all around. The Reserve Bank of India (RBI), in its campaign RBI Kehta Hai, says that users should not panic or share any personal financial information with anyone over a phone call.

These are some of the useful tips to follow:

1. Cardholders are advised to verify the genuineness of the caller or refund request. If there is any suspicion, you should instantly disconnect the call.

2. If the money is transferred fraudulently, you should report to cybercrime.gov.in or call 1930 for help.

3. Never ever reveal your bank account details, internet banking user ID, password, credit card or debit card number to anyone. Notably, no official or bank will ever ask for any of these details. And do not ever share other confidential information such as CVV or PIN.

4. Users can also lodge a complaint with local police, cyber-crime police or even on [email protected] if you are made any offers of cheap funds from anywhere.

Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.

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