Axis bank ₹2 lakh credit card fraud: What I learned fighting through grievance redressal and the RBI ombudsman seeking support to continue this battle
This textual content tells the precise story of Sourav Ghosh, who confronted points because of an unknown transaction. It explains what prospects should look out for to avoid fraud and what steps to take if one factor goes incorrect. The case moreover displays the place the system fails and the best way these factors is likely to be mounted. Most importantly, it teaches us that even when all of the issues seems to go in opposition to you, it’s important to stay sturdy and battle for what’s true.
“Fraud can happen to anyone. Nevertheless the precise betrayal begins when the very institutions meant to protect you flip their backs.”
Introduction: how i grew to develop into every a sufferer and a fighter
In Might 2024, a fraudster robbed me of additional than merely money; they stole my peace of ideas, my perception inside the system, and virtually a yr of my life. However, primarily probably the most painful lesson I noticed is that this: the system doesn’t merely fail you, it fights in opposition to you.
Instantly, I’m nonetheless buried beneath rising debt, battling to indicate that I’m a sufferer, not a defaulter. That’s my story, not merely to share my battle, nevertheless to go looking out others like me, and to attraction to approved warriors who think about this battle is value persevering with.
Points I need I knew one yr prior to now
Wanting once more, there are some essential courses I noticed the exhausting technique, information that might have saved me from financial loss, psychological agony, and wasted time. I’m sharing them proper right here inside the hope that others don’t ought to endure the similar painful journey.
Under no circumstances, ever perception cellphone calls claiming to be out of your monetary establishment
- Solely perception cellphone numbers you personally collected from verified monetary establishment officers all through in-person visits to the division.
- If you receive a reputation from an unknown amount claiming to be out of your monetary establishment, redirect them to your trusted contact or independently verify by calling the division instantly.
- Scammers in the mean time sound terribly expert; they rely in your momentary perception. Don’t give them that chance.
Don’t rely upon SMS alerts alone, and confirm your emails repeatedly
- SMS alerts can fail or get delayed. Make it a conduct to repeatedly confirm your email correspondence notifications for all transactions.
- Missing an alert doesn’t merely delay your response, it’d in all probability worth you your approved security beneath time-sensitive reporting pointers.
Time is essential; report unauthorised transactions immediately
- For any fraudulent or unauthorised transaction, don’t forget that almost all protections beneath RBI pointers rely on reporting inside 24 hours.
- Use all accessible channels, purchaser care, emails, app chats and ensure you receive affirmation that your grievance was registered inside this vital window.
Be careful when submitting cybercrime complaints on-line
- If attainable, lodge the grievance by calling Cybercrime instantly instead of relying solely on the internet portal.
- If you do file on-line, evaluation the acknowledgement form completely, notably to substantiate the transaction date and amount.
- Any mismatch might lead to your grievance getting caught for months, as a result of it did in my case. If you uncover errors, identify Cybercrime immediately and have them corrected instantly.
File an FIR instantly, you don’t must know the fraudster’s id
- Reverse to trendy notion, you probably can file an FIR even with out realizing who scammed you.
- In case your native police station refuses, search the recommendation of a approved expert immediately. There are approved provisions to escalate non-registration of FIRs and preserve police accountable.
Have the ability to info investigating officers and cybercrime officers
- Many officers coping with these cases may not completely understand how financial institution card transactions work, how credit score rating scores are impacted, or how price gateways and repair supplier liabilities perform.
- Be proactive, maintain involved inside the investigation, and protect pushing for accountability. You probably can’t assume that officers may have the entire options or take the necessary actions with out your persistence.
Final Reminder
Always doc every communication, along with emails, identify logs, grievance acknowledgements, and any verbal assurances obtained. Maintain a non-public log of every movement you take, with dates and events. This not solely strengthens your case legally however moreover ensures you don’t miss essential follow-ups all through what can sometimes flip into an prolonged and exhausting course of.
Timeline of my battle for justice
Might 11, 2024 – The day it started
A fraudster referred to as me pretending to be from my monetary establishment. They knew my ultimate 4 card digits, the form of taking part in playing cards, the ultimate bill generated & PID, and even my credit score rating limit.
They directed me to a fake website resembling my monetary establishment’s co-branded CPP portal and happy me to enter my title and cellphone amount, not my card particulars. An OTP adopted, supposedly for waiving the Annual Maintenance Price.
Correct after I gave the OTP, I felt a sinking feeling in my stomach. One factor didn’t actually really feel correct. Inside minutes, I dropped the choice, modified all my passwords, blocked my taking part in playing cards, and even knowledgeable my confederate that I had most certainly managed to incorporate the state of affairs merely in time.
For a brief second, I believed I had acted fast ample to stop any precise hurt. Nevertheless I had no idea that whereas I was attempting to secure my accounts, the hurt had already been carried out quietly, and with out even an SMS alert to warn me.
Might 21, 2024 – Discovery and first grievance to the monetary establishment
I solely found regarding the transaction when the next financial institution card bill arrived. Positive, technically, the monetary establishment had despatched an email correspondence alert, nevertheless let’s be reliable, how many individuals confirm every transaction email correspondence after we’re not even aware {{that a}} transaction occurred?
At that second, it didn’t even cross my ideas {{that a}} transaction like this would possibly happen with out me ever entering into my card particulars. I couldn’t take into consideration that just by sharing my title, cellphone amount, and an OTP, such an unlimited CVV-less transaction is likely to be processed.
By the purpose I observed that bill, it was already too late.
I immediately raised a dispute. The monetary establishment’s chilly response:
“The transaction was authenticated using OTP. The obligation stays with the shopper.”
They refused to acknowledge that I certainly not obtained an SMS alert or that the transaction was extraordinarily unusual based on my spending patterns.
Might 2024 – Cybercrime grievance filed nevertheless caught in limbo
We promptly filed a grievance by way of the Cybercrime On-line Portal, hoping it’d expedite the investigation. For virtually a yr, the standing merely confirmed “Beneath Course of”. Each time we enquired on the native police station, we obtained the similar imprecise response.
It wasn’t until we took our advocate to the Cybercrime Head Office that we uncovered the precise scenario, the grievance had efficiently bounced because of the transaction amount we entered didn’t match the exact disputed amount. On account of a technical glitch, the whole amount hadn’t been submitted, nevertheless the system nonetheless generated an acknowledgement.
Shockingly, neither the authorities nor even the approved professionals we consulted noticed this error inside the grievance acknowledgement. It was solely after instantly contacting Cybercrime assist that the file was corrected inside 24 hours of our identify.
Solely after this correction have been we lastly able to register an FIR on March 1, 2025, virtually a yr after the fraud took place.
This experience made it painfully clear that strategies meant to protect us are so poorly designed and monitored that even essential grievance errors go undetected. And whereas we waited in good faith, time slipped away, and the financial burden grew heavier.
Might – Dec 2024 – The escalation begins
- Stage 2 (Nodal Officer): My concerns have been dismissed as soon as extra with a templated response.
- Stage 3 (Principal Nodal Officer): Their final stance:
“We deny your declare of these transactions being fraud.”
My questions have been certainly not answered:
- Why wasn’t I despatched a obligatory debit SMS for a high-value transaction?
- Why didn’t the fraud detection system flag a transaction using 90% of my credit score rating limit no matter no prior large transactions?
- Why wasn’t the price gateway or service supplier held accountable?
I couldn’t help nevertheless shock what exactly this Digital Transaction Monitoring System is that banks focus on.
Even after we try to make official purchases and enter OTPs ourselves, haven’t all of us expert circumstances the place the monetary establishment blocks the transaction, briefly freezes the cardboard, and immediately floods us with SMS alerts, emails, and even verification calls asking if we authorised the transaction?
If their system reacts so aggressively for lots smaller portions, why didn’t any of those safeguards set off when virtually 90% of my credit score rating limit was worn out in a single, extraordinarily unusual transaction? That’s the question no person from the monetary establishment’s grievance officers to the regulatory authorities has ever cared to answer.
And this raises one different essential distinction that’s sometimes ignored: a financial institution card transaction isn’t like a straightforward account-to-account change by way of NEFT or UPI. In these cases, solely the two monetary establishment accounts are involved. Nevertheless with financial institution card transactions, two additional intermediaries are on a regular basis part of the strategy: the price gateway and the service supplier.
If you’ve ever run a enterprise and tried to enroll with price gateways like Razorpay, Paytm, or PayU, you’ll perceive how stringent their KYC verification processes are. It’s no easy exercise to even open an account with these platforms. And provides it some thought, how sometimes do you hear about new price gateways popping up? You don’t, because of getting a license to perform as a price gateway or aggregator, notably for card-not-present transactions, requires rigorous protection compliance and regulatory approvals from the RBI and completely different authorities.
So, isn’t it uncommon and admittedly unacceptable that no matter these layers of accountability, and whatever the price gateway and repair supplier having full id data of who processed the transaction, they aren’t being held liable the least bit for facilitating this disputed transaction?
It feels identical to the very system constructed to forestall such fraud is instead shielding the wrong players, whereas leaving victims like me to endure alone.
There’s moreover a fairly easy, commonsense question that no person seems to ask: We don’t use financial institution playing cards to easily ship money to folks for personal causes, will we? Financial institution playing cards are meant for purchasing providers or merchandise.
So, when the monetary establishment rejected my attraction, stating that “it was a worthwhile e-commerce transaction carried out in a secure ambiance,” I requested a main question:
If this was actually a official e-commerce transaction, why isn’t the monetary establishment asking the service supplier to furnish proof of the merchandise purchased or firms delivered?
Shouldn’t the burden of proof fall on the service supplier to point what exactly was purchased to me? Finally, that’s customary apply in any official enterprise transaction. Nevertheless instead of holding the service supplier accountable or investigating what objects or firms have been supposedly purchased, the monetary establishment merely closed my case and pushed the obligation onto me.
Isn’t that the exact reverse of how shopper security is supposed to work?
July 2024 – RBI ombudsman grievance
I filed a correct grievance beneath the RBI Constructed-in Ombudsman Scheme. Finish outcome:
“No deficiency found inside the monetary establishment’s service. Please technique regulation enforcement.”
March 1, 2025 – FIR lastly registered
For virtually a yr, I didn’t know I could file an FIR with out realizing the fraudster’s id. No person, neither the monetary establishment nor the police, knowledgeable me. The FIR was lastly lodged beneath Sections 406 and 420 IPC.
March 2025 onwards – Submitting FIR to Axis Monetary establishment as soon as extra
No matter submitting the FIR, the Principal Nodal Office replied:
“In case if in case you could have filed any FIR with the police, please share the copy with us.”
This, even after I’d already shared it plenty of events, along with by way of a Google Drive hyperlink after their email correspondence system saved rejecting attachments.
April 2025 – Submitting FIR to RBI as soon as extra and going by way of but yet one more closure
After lastly registering the FIR, I submitted it as quickly as as soon as extra to the RBI Ombudsman, hoping this essential enchancment would fast them to rethink my case.
Nevertheless the response was as disappointing as a result of it was dismissive. No matter acknowledging receipt of the FIR, the RBI Ombudsman refused to reopen the case, citing procedural closure and stating:
“The case has already been closed as per the Constructed-in Ombudsman Scheme pointers. We regret that no further movement is likely to be taken on this matter.”
Even after fulfilling every requirement they beforehand cited, submitting the FIR, sharing all case particulars, and providing direct contact data for the investigating officer, I was met with but yet one more closed door.
The endless financial stress
- Every lawyer go to to the police station and letter drafting has worth me over ₹10,000.
- Even after the FIR, the monetary establishment refuses to stop sending month-to-month funds and together with curiosity.
- I’ve already paid over ₹1.5 lakh beneath protest, paying the minimal price, to avoid credit score rating score hurt, nevertheless the debt solely grows.
My once more is in opposition to the wall. I am stopping with dwindling financial sources and mounting emotional distress.
The approved protections which were ignored in my case
Purchaser security
- Limiting Obligation of Prospects in Unauthorised Digital Banking Transactions (6 July 2017)
Read Here
I reported the fraud immediately after discovering it. However, the monetary establishment refused to make use of the zero-liability clause.
Mandatory SMS alerts (RBI Circulars)
Fraud monitoring and prevention
Chargeback and repair supplier accountability
Associated approved precedents
Jesna Jose v. HDFC Monetary establishment (NCDRC, 2021)
Jarnail Singh v. SBI (NCDRC, 2022)
Refund granted ensuing from lack of SMS alerts.
Jyoti Bezbarua Goswami v. SBI (Gauhati Extreme Court docket docket, 2023)
The courtroom ordered a refund of ₹4.44 lakh; the monetary establishment did not present purchaser negligence.
Why I’m sharing this
To connect with others like me
If you’ve confronted one factor comparable, let’s be a part of. Collectively, we are going to commerce data and stand stronger.
To attraction for volunteer approved help
I am trying to find approved professionals or regulation faculty college students ready to help me battle this injustice.
After I win, I completely intend to say all approved costs from the monetary establishment as part of the compensation.
Your rightful costs is likely to be my first priority from any restoration. Nevertheless until then, I need someone who believes in standing up for what’s correct, even when the probabilities are in opposition to us.
To know my precise approved selections now
I am carried out dropping further time and cash drafting approved notices and sending letters to the monetary establishment or RBI that lead nowhere. I’ve already spent ample on approved costs with out seeing any precise progress.
What I really need now’s clear, actionable advice on the next step:
- Must I technique the Consumer Court docket docket beneath the Consumer Security Act?
- Is it attainable to file a Writ Petition beneath Article 226 inside the Extreme Court docket docket in opposition to the monetary establishment and regulatory failures?
- Are there each different regulatory our our bodies or boards the place I can preserve the monetary establishment and the RBI accountable for negligence?
- Might this case qualify for a Public Curiosity Litigation (PIL), considering the larger scenario of systemic failure affecting many others?
I’m not getting straight options from my current approved counsel. I need someone who understands every the approved framework and primarily probably the most smart, environment friendly technique forward to lastly convey this battle to the appropriate dialogue board.
Closing concepts: I’m not carried out stopping
No matter all of the issues, I’m nonetheless standing. I refuse to give up, even when every institution I trusted has turned away.
If you’re someone who believes in justice, whether or not or not you’re a fellow sufferer or a approved expert, I ask you, please attain out. Help me battle this battle, I should have certainly not wanted to battle alone.
For personal and approved causes, I’ve chosen to stay anonymous on this text.
Nonetheless, I is likely to be actively monitoring the suggestions to gather any advice, examine from others going by way of comparable factors, and uncover attainable choices.
If any approved professionals or folks ready to help need a personal introduction, I kindly request that you just simply attain out on to the publication’s editorial crew.
They may facilitate a confidential reference to out compromising my privateness.
