There's no way to completely prevent bank fraud. However, with a little awareness and a few precautions, customers can mitigate the risk to some extent.

Bank Account Fraud

Punjab National Bank (PNB) customers in Greater Noida have been subjected to a major fraud. Without signing any documents or sharing OTPs, ₹35 crore has suddenly disappeared from their fixed deposit (FD) and savings accounts. This incident is truly shocking.

People deposit their savings over the years in banks. So, if money disappears from their accounts without any reason, it's natural to feel upset. While not all types of banking fraud can be prevented, customers can mitigate the risk. If you discover a transaction in your account without your consent, take immediate action.

BankBazaar CEO Adhil Shetty told NDTV that customers should know what to do if they notice a suspicious transaction. He outlined five steps customers can take to report fraud and seek redress.

Immediately inform the bank.

The first step is to immediately notify your bank as soon as you receive a message about an unauthorized transaction. Call the bank's customer care number or immediately freeze your debit/credit card, UPI, and internet banking services through the net banking app to prevent further unauthorized transactions. If your banking credentials have been compromised by fraud, such as a password or PIN change, inform the bank of this information as well.

File a report within 3 days.

Simply informing the bank over the phone isn't enough. According to RBI regulations, if money is deducted from your account due to a third-party breach or negligence by the bank, and you notify the bank within three working days, the customer's liability becomes zero.

This means that in this situation, the bank will have to return the entire amount. Therefore, in the event of a bank fraud, first file a formal complaint and keep the complaint reference number, transaction details, and any written acknowledgment.

Along with filing an FIR with the police, also inform the cyber cell.

If you suspect cyber or digital payment fraud, immediately call the National Cyber ​​Crime Helpline number 1930. You can also file a complaint through the government's National Cyber ​​Crime Reporting Portal. Have your bank account details, transaction ID, transaction date, lost amount, and related screenshots handy. This information can help authorities trace the transaction and alert the relevant financial institutions.

Preserve evidence

Keep copies of bank statements, SMS and email alerts, screenshots of unauthorized transactions, acknowledgments, and all communications with the bank. If you visited a branch after the fraud occurred, note the date and details of the conversation. If you receive a written response from the bank, keep that as well. These will help prove when the fraud occurred, when you reported it, and what action the bank took.

What if the bank does not respond?

If the bank does not respond within 30 days of your complaint, or you are not satisfied with its response, you can escalate your complaint directly to the RBI Ombudsman. You can email your complaint along with all the required documents to CRPC@rbi.org.in. You can also call the RBI's national toll-free number 14448 for more information or assistance.