What to Do If Someone Has Made a Fraudulent Call and Withdrawn Money From Your Account

In today’s digital world, online banking and digital transactions have made our lives convenient. However, they have also given rise to financial frauds. If you’ve been a victim of a fraudulent call and someone has withdrawn money from your account, don’t panic. This guide will help you understand what steps to take, whom to complain to, and how to get your money back.

Step 1: Stay Calm and Act Quickly

The first and most important thing is to remain calm. Fraudulent transactions can be distressing, but immediate action increases your chances of recovering your money. Remember, time is critical in such cases.

Step 2: Inform Your Bank Immediately

The moment you realize money has been withdrawn fraudulently, contact your bank’s customer service helpline. Banks usually have a 24/7 helpline number to report such incidents. Provide them with all the necessary details, such as:

Details of the fraudulent transaction
Date and time of the transaction
Amount debited

Ask the bank to block your account or card temporarily to prevent further misuse. Also, request a dispute form to formally report the unauthorized transaction.

Step 3: File a Complaint With the Bank

After informing the bank, you need to file a written complaint. Visit your nearest branch and submit a detailed application explaining the fraud. Attach supporting documents such as:

A copy of your bank statement showing the fraudulent transaction
Copies of any SMS or email alerts you received
Identity proof

Ensure you receive an acknowledgment receipt for your complaint. Most banks also provide an option to file complaints online through their official websites or mobile apps.

Step 4: Lodge a Complaint With the Cyber Crime Cell

If the fraud involves an online scam or phishing call, report it to the Cyber Crime Cell of your city. You can file a complaint online through the official cybercrime portal (cybercrime.gov.in) or visit the nearest police station. Provide details of the fraud, including:

Your name and contact information
Details of the fraudulent call
Transaction details

Filing an FIR or a complaint with the police ensures your case is formally registered and increases the chances of catching the fraudster.

Step 5: Notify the Reserve Bank of India (RBI)

If your bank doesn’t resolve your issue within a reasonable time, escalate the matter to the Reserve Bank of India (RBI). The RBI has an Integrated Ombudsman Scheme to address complaints against banks. You can file a complaint online through their portal (cms.rbi.org.in).

Step 6: Monitor Your Account Regularly

While your complaint is being processed, keep monitoring your account for any further suspicious activity. Change your online banking passwords and PINs immediately to secure your account.

Will You Get Your Money Back?

Whether you’ll get your money back depends on several factors, such as the type of fraud and how quickly you reported it. As per RBI guidelines:

If the fraud was due to negligence by the bank (e.g., system failure), the bank is liable to refund your money.
If the fraud occurred due to your negligence (e.g., sharing your PIN or OTP), the liability depends on how soon you report the incident.
If you report the fraud within three days, you are generally not liable for the loss, and the bank must refund the amount.

The bank usually investigates the matter and refunds the money within 7-10 working days if your claim is valid. However, delays may occur in complex cases.

How to Prevent Such Fraud in the Future

To avoid falling victim to such scams, follow these safety tips:

Never share your PIN, OTP, or passwords with anyone, even if they claim to be from the bank.
Beware of unsolicited calls asking for personal or banking details.
Always verify the authenticity of the caller by contacting your bank directly.
Enable transaction alerts via SMS and email to monitor your account in real-time.
Use strong and unique passwords for your online banking accounts.
Regularly update your banking app and antivirus software.

Frequently Asked Questions

1. How long does it take to resolve a fraud complaint?

The resolution time varies but generally takes 7-10 working days. Complex cases may take longer.

2. Can the police help recover my money?

While the police and cybercrime cell investigate and attempt to catch the fraudster, recovering the money often depends on the bank and the nature of the fraud.

3. What if my bank refuses to refund the money?

If the bank denies your claim, escalate the matter to the RBI Ombudsman or seek legal advice.

Conclusion

Being a victim of financial fraud can be stressful, but acting swiftly and following the proper steps can help you recover your money. Always stay vigilant and protect your banking information. Remember, prevention is better than cure.