| In India, most of the credit holders prefer to do | | | | trace the fraud. |
| bookings or shopping online using their credit cards. | | | | When the bank contacted the particular user he |
| Even some of the booking sites have offers for such | | | | informed them that he was totally unaware of the |
| customers such as booking airline tickets online and the | | | | transactions, thus the bank lodged a complaint with the |
| customer earns reward points which can be | | | | Cyber Crime Cell of Mumbai Police. |
| redeemed against a free trip to some good place. | | | | There was a similar case of a Citibank user from |
| Recently to secure online transactions the Reserve | | | | whose account Rs 100,500 was transferred to |
| Bank of India made it mandatory to have another PIN | | | | another account and he filed a complaint. These are |
| (personal identification number). Some of you might be | | | | just few cases of online fraud done using credit cards; |
| thinking what forced the RBI to take this step? Then | | | | there are many more. |
| how you can use your card online safely? | | | | If not able to eliminate completely, at least try to control |
| Let's try to get answers for our questions. | | | | the online fraud involving credit cards. RBI made it |
| In the recent times there has been an increase in online | | | | mandatory to use another pin for all online transactions |
| fraud. The Mumbai Cyber Crime Cell police caught hold | | | | involving credit card. |
| of Ajay Patel who booked Kingfisher Airlines tickets | | | | In this new RBI norm for processing of online |
| online by using 50 ICICI Bank credit cards. The | | | | transactions extra authentication or validation is |
| procedure he adopted was change the last 2 digits of | | | | needed which do not use information mentioned on the |
| the card number and use a new PIN on every card he | | | | card. |
| used while his colleagues in Bangalore printed the airline | | | | In case of a single transaction the purchasing done is |
| tickets and sold them to the unsuspecting travelers at | | | | more than Rs 5,000 through a credit card then the |
| discounted rates. The ICICI bank got suspicious over | | | | customer gets an online alert from its bank if the card |
| these transactions and thus started keeping a close | | | | is not present. For not abiding by these guidelines the |
| watch on the online bookings made at the Kingfisher | | | | customer will be fined as per the rules mentioned |
| site made by credit card and discovered a strange | | | | under Payment and Settlement Systems Act 2007 |
| pattern in the transactions carried out by a particular | | | | (Act 51 of '07). |
| credit card user. From here the bank was able to | | | | |