1. Home
Neeraj Chaudhary on 26 April 2011
Share on Facebook

Standard chartered bank charging (Rs 2 Lac) for the fraudulent transaction on stolen credit credit card in spite blocking of card within 5 minutes

Dear sir, I am having Credit Card no. 0605 issued by standard chartered bank. On 06-01-2011 at 7.40 P.M., the said Credit Card was stolen along with my other valuables and the information of stolen card was immediately given to Police Help- Line at 100 no. of Police Station Safdar Jung Enclave New Delhi and subsequently its complaint was lodged on the same day. (Annexure - Police complaint 1). In this matter, I have brought all the facts and developments of the case to the knowledge of bank at the earliest. Copy of all the communication held with the Bank viz Standard Chartered Bank is enclosed herewith for your appraisal of the facts. (Annexure-1,2,3,4,5). The whole issue in chronological order is as under: - 1. On 06-01-2011(i.e., same day) at 9.20 P.M. I had been come to know through SMS regarding the fraudulent transactions made by some person, through my stolen credit. At 9.20 P.M. I had received the first S.M.S. for the unauthorized transaction for purchase of goods worth Rs. 50/- and other transactions amounting Rs 1.81 lacs and also asked to call on help line if I have not transacted. Immediately at 9.24 P.M. I had informed bank through my registered mobile no. for not having made these alleged transaction of Rs. 48/- and also requested bank, not to make the payment of this transaction and block/stop all the future transactions as the said Credit Card was stolen as 7.40 P.M. on 011. Bank had also informed immediately at the same time and date to all their concerned department/ persons like fraud control etc. over E-mail for stopping all the transactions in respect of the aforesaid stolen Credit Card. (Annexure bank reply -1.htm) Next day (7-Jan-11) investigating officer Mr. Javed chauhan called me to investigate the matter who had also confirmed and assured me that such type of heavy transaction could not be done within a short span of 2 minutes time without the involvement / connivance of the said merchant and there are many rackets running in this area who swiped stolen credit card. 2. On 8-Jan, after lodging the FIR U/s. 379 I.P.C. in the said Police Station. The copy of the aforesaid FIR bearing no. 5/11 dated 08-Jan-11 was sent to bank on 8-Jan-11 (Annexure FIR -2), the Police investigated the matter in the presence of standard chartered fraud controlling unit manager- Mr. Javed Chauhan accompanied by bank lawyer Mr. Harendra singh. Police has come to know that these fraudulent transactions are made from two non-existent merchants who operate from small provision store in G.B. Road area of old Delhi having Point of sale machines (POS) issued by various banks, as found by the police during their investigation in this case. It is also to bring to your notice that Delhi police has busted this as a racket involving merchant who swiped credit card & this news has been published in all national newspaper, TV channels etc (Annexure amarujala 1, Danik jagran 2, Hindustan times 3, HT 4, Danik jagran 5) The culprit Rajneshath Maini proprietor of M/S. Super Value Store / Krishna Departmental Store was caught along with the files, fake bill, along with my original driving license based upon unauthorized transaction. The detailed investigation report in this case has been filed by the Delhi Police in the Hon’ble Patiala House Court, New Delhi. 3. It is pertinent to mention that I had submitted the disputed form through E-Mail on 08-01-2011 as desired by bank. On 19-01-2011 bank informed me and regretted for delay in replying the dispute form.( Annexure dispute copy 1). Surprisingly on 03-02-2011 bank informed through SMS to me for demanding the amount of Rs. 1,80,770/= pertaining to the unauthorized transaction held after having stolen the aforesaid Credit Card in spite of timely information to the Bank through Phone on the same date at 9.24 P.M. and requested to block/stop all the future transaction through the aforesaid stolen Credit Card and also written clearly to the bank in the mail that In case, bank have made the alleged payment of Rs. 1,80,770/= after having informed by me, I will not be responsible to make the payment of such unauthorized transactions. Bank have been negligent for making the payment of such unauthorized transactions for which I shall not be responsible at all. It will be deemed that bank have made the alleged payment of the unauthorized transactions in connivance with the culprit. Now I wish to bring to your notice following facts where bank have been negligent in this matter that: 1. What investigation bank has done? Is it to make sure whether transactions have really happened by cardholder or just the transaction has happened? 2. Bank has not made any effort to stop the payment to merchant. I have asked several time copy of communication done to the other bank to stop the payment, but no copy has been provided to me. 3. Bank has not filed any complaint to the police against such organized criminals, and promoting these fraudulent transactions by simply putting liability onto pity customers who are unaware or either cant fight with bank who have dedicated staff to mute the voice of customers. 4. What is the purpose of sending sms to customer about the purchases and asking them to inform to helpline if in case customer himself have not transacted. 5. Bank has either not responded or responded irrelevant in a standard format in response to my query which are crucial for investigation. As an honest customer, what best I could do, I did, which includes, notifying police, bank, legal and all. Apart from this, what else one can do for not being liable for these unfortunate events? Now bank is giving me sleepless night by harassing me and giving mental agony by calling and sending me sms everyday at irregular times. I have also requested them to follow the legal procedure to recover the money but they are not stopped calling me to threaten me to recover money. Under the above circumstances, you are, requested to look into the matter and called upon to withdraw alleged bill of Rs. 1,80,770/= along with the interest amount for the aforesaid unauthorized transactions. Apart from above, you are also requested to look into the matter to safeguard the greater customer interest as such type of nexus (Modus-operandi) between other banks and fraudulent vendors/merchants may be existed all over the country (came to light during police investigation) and the customers are being cheated by the banks in the above mentioned manner. During the investigation of this particular case, there were more than 100 stolen credits cards were swiped at this merchant amounting more than 1 Crore but no bank has come forward to lodge any complaint in this regards and simply promoting this crime in the country. Now 2 days ago, bank further called me and threating me to pay me amount or otherwise bank will continue harassing me in the way which i can not imagine as per bank executives. Regards Neeraj chaudhary 1167