Credit card Fraud - online international transaction

[gb]

Hi,
I wish to know the rights & the liabilities of the credit card users as one week back my ICICI bank credit card was used for an online transaction to buy stuff from a grocery store in Turkey .

Bank itself had blocked the card & I was informed when I checked with them as my card was showing TRANSACTION DECLINED .

I have raised the dispute with the bank for the fraudulent transaction.

As per RBI guidelines,banks are suppossed to provide double layer of online security ,the last being on their server for which the verification access is with the respective bank only & hence the responsibilty for the same lies with the credit card bank only as per my understanding,seek expert views on the topic .

[cardbhai]

Yes you are absolutely Right. Since late 2009 this is made compulsory by the RBI http://www.cardbhai.com/2009/07/verified-by-visa-mastercard-securecode.html

1. Raise a Dispute with the Bank in Writing - Refer http://www.cardbhai.com/2010/05/how-to-fight-credit-card-fraud-india.html

2. Also Read this carefully http://www.cardbhai.com/2011/07/consumer-rights-fraudulent-transactions.html

3. Tell the banks not to REPORT in Negative to Credit Bureaus [CIBIL, Experian, Equifax] and others if any.

Keep the Ombudsman of the Bank in your region in Loop. [Goto your Local Bank and ask for Details of Ombudsman and they'll give you]

Until the issue is resolved, do not use the card and make all other payments which you have used the card for.