SBI Credit Card Fraud: I Lost ₹27,748 - What Should I Do?

Ans: It sounds like you're facing a frustrating situation with recurring messages about a payment for an SBI debit card that you don't have. Despite your efforts to contact the concerned parties and raise the issue through multiple channels, you haven't received a satisfactory resolution.

At this point, since you've already contacted both the AGM in Mumbai and lodged complaints through the SBI card chargeback website without success, you may want to explore additional steps to resolve the issue:

Escalate the Matter: Consider escalating your complaint within SBI's hierarchy. You can try reaching out to higher authorities or different departments within SBI, such as customer service or dispute resolution, to seek further assistance.

Legal Assistance: If the issue persists despite your efforts and continues to cause inconvenience or distress, you may consider seeking legal advice or assistance. A legal expert can provide guidance on your rights and options for resolving the matter through legal channels.

Consumer Protection Agencies: Contact consumer protection agencies or ombudsman services that deal with banking-related grievances. They may be able to intervene on your behalf and facilitate a resolution with the bank.

Credit Reporting Agencies: If the incorrect information is affecting your credit score or financial standing, you can contact credit reporting agencies to dispute any inaccuracies and request corrections to your credit report.

Document Everything: Ensure you keep records of all your communication attempts, including emails, complaint reference numbers, and any responses received. This documentation can be valuable if you need to provide evidence or pursue further action.

Ultimately, persistence and patience may be necessary as you navigate the process of resolving this issue. Keep advocating for yourself and exploring different avenues until you achieve a satisfactory outcome.

Ans: First, I empathize with the frustration you're experiencing. It can be distressing to deal with unexpected charges, especially when they can impact your credit score. You’re not alone in this; many people face similar issues with credit card companies. Here’s a step-by-step approach to resolving this situation.

Steps to Resolve the Issue
1. Gather Documentation

Collect all the communication you have received from SBI Cards. This includes emails, SMS messages, and any written correspondence. Also, have a record of your cancellation request and their responses.

2. Contact Customer Service

Contact SBI Cards customer service once more. Explain the situation clearly and provide all the details. Ask them to escalate your issue to a higher authority or the grievance redressal department.

3. Write a Formal Complaint

If the phone call doesn't resolve your issue, write a formal complaint. Address it to the grievance redressal officer of SBI Cards. Include:

Your card details (without sharing sensitive information like the full card number)
The timeline of events
The fact that you were promised a fee waiver
Copies of any relevant communication
A clear request for the fee and penalties to be reversed
Send this complaint via email and registered post to ensure it is received and documented.

4. Approach the Banking Ombudsman

If SBI Cards does not resolve your issue within 30 days, you can escalate the matter to the Banking Ombudsman. The Ombudsman is a quasi-judicial authority set up to resolve customer complaints against banks. To file a complaint with the Ombudsman:

Visit the RBI Banking Ombudsman website.
Select the appropriate jurisdiction.
Fill out the online complaint form, including all details and attaching your documentation.
5. Check Your Credit Report

Regularly monitor your credit report. You can get a free credit report once a year from each of the credit bureaus (CIBIL, Equifax, Experian, CRIF High Mark). Check if the disputed amount has affected your score.

6. Legal Advice

If the issue persists, consider seeking legal advice. A lawyer specializing in consumer rights can guide you on the next steps and potentially send a legal notice to SBI Cards.

Preventive Measures for the Future
1. Cancel Unused Cards Properly

Always ensure that you receive a confirmation of cancellation in writing. Keep a record of this confirmation for future reference.

2. Monitor Your Accounts

Regularly check your credit card statements and accounts, even for cards you don’t frequently use. This helps you catch any unexpected charges early.

3. Understand Terms and Conditions

Before accepting any credit card or service, carefully read and understand the terms and conditions, especially regarding fees and renewal charges.

Final Insights
Dealing with credit card companies can sometimes be challenging. However, by following a systematic approach, documenting all communications, and escalating issues when necessary, you can resolve such disputes. It’s crucial to act promptly to prevent any negative impact on your credit score. Stay persistent and assertive in your communications with SBI Cards, and don't hesitate to escalate the matter if you don't receive a satisfactory resolution.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner,

www.holisticinvestment.in

Ans: It's unfortunate that you've faced this situation. You acted correctly by involving the legal process. The bank's delay is indeed concerning.

Bank’s Delayed Response
The court’s order was clear, and the bank’s delay caused a significant loss. Timely action by the bank might have resulted in full recovery.

Consider Involving RBI Again
Given the circumstances, it would be prudent to involve RBI once more. You should explain the loss incurred due to the delay in their action. It is essential to request RBI’s intervention to ensure the bank fulfills its responsibilities.

Legal Advice Option
You may also consider consulting with a legal expert. They can guide you on whether further legal action against the bank is possible.

Final Insights
Your efforts were commendable, and your next steps should focus on accountability. Holding the bank responsible for its delay is important.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

Ans: I'm truly sorry to hear about your experience with this fraud. Cyber scams, especially in the name of part-time jobs, have become increasingly common. While you've followed the required steps, the response from the bank and RBI can be frustrating. Here’s a structured approach to help you pursue your case further:

1. File an FIR with the Cyber Crime Police Station
Since you've already filed a police complaint, ensure it’s registered as an FIR (First Information Report) if it wasn’t initially.

Visit the Cyber Crime Police Station in your city or use the National Cyber Crime Reporting Portal (cybercrime.gov.in). Online reports are also possible.

Cyber crime units often coordinate directly with banks, so they might offer additional support. The sooner they receive the full complaint, the better the chance to trace the transaction trail.

2. Gather Complete Documentation
Compile all relevant documents: initial complaints to the bank, emails, SMS messages, screenshots of Telegram conversations, bank statements showing the transaction, RBI complaint letters, and any other related correspondence.

This documentation will provide a thorough record of events, which is helpful for authorities and any additional escalations you make.

3. Escalate with the Banking Ombudsman
File a complaint with the Banking Ombudsman under the Reserve Bank of India if you haven't done so already. This is a separate avenue that might yield a different result.

To initiate, visit the RBI’s Banking Ombudsman page and follow the complaint process. Ensure your complaint is detailed, mentioning dates, bank interactions, and the specific RBI guidelines under which you initially acted.

4. Send a Legal Notice to the Bank
If the Banking Ombudsman process does not yield results, you may consider sending a legal notice to the bank. This may compel them to reconsider their stance.

Contact a lawyer who specializes in consumer or banking matters. The lawyer will draft a legal notice mentioning the bank's failure to act as per the initial commitment made by the branch manager.

Sometimes, this step pushes banks to act, as they prefer to avoid further legal disputes.

5. Approach the Consumer Forum
If the above steps don’t help, you may consider filing a complaint with the Consumer Disputes Redressal Forum in your district or state.

Since you suffered financial loss due to what may be considered negligence or delay from the bank's side, the Consumer Forum might provide some relief or compensation.

Provide all documentation and details, especially focusing on the timeline of events and the initial shadow reversal placed on your account.

6. Alert the Cyber Cell and RBI Ombudsman about Fraud Trends
To help prevent further fraud, report this Telegram scam with details to the Cyber Cell and the RBI fraud department. This may lead to a warning to banks about specific types of scams, potentially benefitting other customers in the future.
7. Stay Cautious of Follow-up Scams
Fraudsters sometimes target those affected by previous scams with promises of refunds. Stay cautious about any unsolicited communication that claims to assist with recovering the funds for an additional fee or transaction.
Finally: Be persistent and patient as you follow each step. Given the increasing number of cyber fraud cases, authorities are becoming more proactive in tackling these issues, but the process can be lengthy.

Best of luck with your efforts, and I hope your funds are recovered soon.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment