#OnlineFraud #MoneyBackProcess #MoneyRefundRules #RBI #BankRules
The video explains the process to get money refund/ back in case of online frauds.
The virtual world crimes including cyber frauds are rising at an alarming rate. According to crime data, identity theft accounts for 77 % of the fraud cases registered in India. Another analysis suggests that, “one in every three Indian will be affected by identity theft at some point in their lives”.
Victims in cyber fraud cases are concerned not only with conviction of cyber criminals but also with refund of money. Hence, this blog, focuses on legal aspect of refund of money as well as procedure for the same.
The bank’s (All scheduled commercial banks, Small finance bank and Payment Banks) liability in case of Unauthorized Electronic Banking Transactions is governed by RBI circular – RBI/2017-18/15, DBR.No.Leg.BC.78/09.07.005/2017-18 dated July 06, 2017.
PROCEDURE VICTIM SHOULD FOLLOW:
There is no strict procedure to be followed, except for rigid timelines as enumerated before. However, for maximum efficiency, following procedure is recommended:
Step 1: The complainant/ victim should lodge a complaint with the nearest Police Station or Cyber Cell. Following documents should be submitted along with the complaint:
Self attested, Government ID proof of the complainant
Screen Shots of the SMS which reflects the unauthorized transaction details (received on the victim’s registered mobile number)
A detailed application describing the whole incident i.e., how the caller obtained the private information like card details and OTP etc.
Name of any suspected webpage or application used by the victim
Phone numbers of the fraudster (if available) i.e., Whatsapp, IMO, WeChat, Skype, email etc
Updated bank statement reflecting the unauthorized transactions
Any other relevant detail:
The chats, fraudulent mails, voice recordings, phone messages etc. should be retained in the “Original Device” as such. This is important to enable adduce them as evidence in the Court of Law. Once, the contents from original device are deleted, they lose their sanctity (even though present in other devices, as forwarded materials). Hence, care must be taken not to delete the original incriminating evidences.
Ideally, an FIR should be lodged (U/S 154 Cr.P.C), but if police resists get a DDR (Daily Diary Register) entry made and receive a stamped copy of the proof of submission of the complaint. Now-a-days several state police allows lodging similar complaint via mobile application or web based interfaces too.
The whole idea is to lend weight and credibility to the complaint you shall finally make to your bank, with the use of such FIR/ DDR entry.
Step 2: Submit a similar complaint to the nearest bank branch and the RBI branch. The complaint to RBI branch is primarily meant to pressurize the bank to deal with the case swiftly and strictly as per the procedure prescribed by RBI.
RBI Bank branches: The RBI branches pan India can be seen using this link –https://www.rbi.org.in/Scripts/Regionaloffices.aspx
Care must be taken to ensure you notify the bank within three working days of receiving the communication from the bank regarding the unauthorized transaction, to enjoy zero customer liability.
Step 3: Stay in contact with bank officials, seeking refund as per RBI guidelines. In case of delay, seek reasons for the same.
Blog version: https://cyber-cops.com/blog/sop-for-money-refund-in-online-fraud-cases
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