[manojas]

Originally Posted by DerAlte

No, the process to credit the consumer's account is not long, as long as it is established that the transactions were fraudulent. Usually the credit appears in the next month's statement.

8 years back, I had paid for my stay at a London hotel (Premier Inn at Wembley) with a StanChart card at the time of checkout. When I returned, I was shocked to see two transactions of about UKP250 each at a Central London store. The transactions were made at 1145, whereas I had flown out of Heathrow on a 1030 flight. When I pointed this out to StanChart, they quickly reversed the transaction immediately without any argument. Later I recollected that the counter lady at the hotel had gone into the back room with my card for a couple of minutes, enough to take an impression on a couple of charge slips (online was not so popular then). Signature> Like I said before, most people don't cross-check.

It all depends on how smartly the miscreants had done it. The main idea behind this thread is to get your suggestions and be prepared so that I will have the things in place to prove the fraud.

[blue_pulsar]

This mainly happens in hotels etc where you hand over your credit card to the waiter. The waiter has ample time to write the credit card number and CVV number.

Guys, always use debit cards whenever you go to hotels. I have an old style debit card which does not have a CVV number. I normally use that in hotels.

Also, always scratch the CVV number from the back of the credit card and memorize it. It might be difficult for some people, but, better than losing money right?

[anarchist]

Hey this happened to me too and the amount was 70 k too, this happened to me in March and I am talking to the Citibank Investigation Unit or CIU. There is a customer declaration form on citibank website, download that and fill it up and fax it to the number given.

I did the same and I got the entire e-tickets booked in the names of people I dont recognize, I had to submit the CDF to the CIU again and thats where it is, all the charges on the card have been credited back to me but investigation is still in process. So get ready for a 2+ month ordeal of charge backs and questioning from the citi CIU and hope its sorted out fast.

[manojas]

Originally Posted by anarchist

Hey this happened to me too and the amount was 70 k too, this happened to me in March and I am talking to the Citibank Investigation Unit or CIU. There is a customer declaration form on citibank website, download that and fill it up and fax it to the number given.

I did the same and I got the entire e-tickets booked in the names of people I dont recognize, I had to submit the CDF to the CIU again and thats where it is, all the charges on the card have been credited back to me but investigation is still in process. So get ready for a 2+ month ordeal of charge backs and questioning from the citi CIU and hope its sorted out fast.

The question I have is, do i need to do this immediately or shall I wait for the bank to send me a letter based on the dispute I have raised?. At the end of the form, there is a mention that this form should be send within 7 days of receiving the CFD, so my question.

Another thing is, did you file an FIR on this? Is yes where?

[idea1979]

Originally Posted by manojas

The question I have is, do i need to do this immediately or shall I wait for the bank to send me a letter based on the dispute I have raised?. At the end of the form, there is a mention that this form should be send within 7 days of receiving the CFD, so my question.

Another thing is, did you file an FIR on this? Is yes where?

I will suggest, dont wait for bank's letter. And proceed with this immediately.

Filing FIR is must. You can do this at your nearest police station as place of crime cant be identified.

[NetfreakBombay]

Originally Posted by DerAlte

Signed authorization is not really a must for the transaction to be cleared. Also, at most establishments the person doing the CC transaction *does not tally* the signature with the signature on the card.

Authorization is still required. Signed Auth is only applicable to POS (Point of Sale) transactions.

In most cases, merchant carries the risk.

There are two steps in transaction:

1. Bank that issues Credit card "Authorizes" the transaction based on Data supplied by Merchant. That is through Bank that gives services to Merchant and various gateways in-between. Merchant get an "auth code".
2. Merchant "Captures" the transaction based on "auth code". At this point, merchant declares that:
A. Identity of Customer has been verified
B. Goods and services have been delivered.

Only after step#2, Merchant get hold of money.

In case of Online transactions, its usually cheaper to combine Auth and Capture. Cost of Insurance (against credit card charge-back due to fraud) is cheaper then running detailed capture process. That is from Merchant's point of view.

VISA/Master card have new process where this risk is reduced by asking for Netbanking password during online credit-card transactions.

[aka_iitd]

Originally Posted by blue_pulsar

This mainly happens in hotels etc where you hand over your credit card to the waiter. The waiter has ample time to write the credit card number and CVV number.

Guys, always use debit cards whenever you go to hotels. I have an old style debit card which does not have a CVV number. I normally use that in hotels.

Also, always scratch the CVV number from the back of the credit card and memorize it. It might be difficult for some people, but, better than losing money right?

I also do the same for the credit cards used in hotel or other places. Also better to keep watching your credit card statements once in a week so that you are aware of the activity going on.

[manojas]

Originally Posted by aka_iitd

I also do the same for the credit cards used in hotel or other places. Also better to keep watching your credit card statements once in a week so that you are aware of the activity going on.

To be precise, all these things happened on my card from 10th of April to 15th of April. So a week is too long. My original statement of 22 days was wrong. Normally so many transaction in a single day should alert the bank. But I dont know why the bank did nothing about it in my case.

So my decision is to reduce the credit limit to 20-25K and activate the SMS alerts from now on. Removal of the CVV number from the card is also a must.

[manojas]

My credit card issue got resolved. The bank informed me that the temporary credit given to me has become permanent.

Thanks for all your support

[mail4ajo]

Online frauds are unlikely now due to the additional level of security for Indian online merchants. International transactions can still be done.