What to Do After a Fraud Incident: A 6-Step Recovery Plan

• Being a victim of financial or identity fraud can be debilitating. But quick action can help you trim your losses and even help catch the scammers.
• Beware of scammers and imposters in Bajaj’s name, and if you face fraud, contact us immediately

Fraud can occur in various ways, but the result is always the same: lost money or stolen personal details! If you discover that a transaction or investment you made was a scam, the earlier you act, the better you will be able to protect yourself and others. It may be difficult to recover all of your stolen funds, but recovery entails more than just recouping your losses.

These six measures will you in preventing further theft, reporting fraud, and beginning the recovery process no matter what types of frauds you face.

1. Stop Your Transactions: The first thing to do after experiencing financial fraud is to prevent losing more money. In case you were a victim of a scam where you have been paying a monthly fee for a fake service, or if your credit card or bank account details have been compromised, it’s time to put a stop to all transactions to avoid facing more consequences of frauds. So, rescind any auto-debit feature on your cards, cancel fraudulent subscriptions, or block your credit/debit card altogether so that no one can use it anymore.
2. Obtain Critical Information at the Earliest: Make a list of the conversations you had with the con artists, including the approximate times and dates they occurred. The cheque number or the transaction ID, when and where you paid the money, the amount of rupees that you paid, and the recipient’s names, email IDs, phone numbers, etc., are all examples of this information. This will help you collate evidence and build a strong case.
3. Keep Your Identity and Accounts Safe: If you utilised your credit card to pay the fraudster, report it right away to your financial providers. If you use usernames or passwords that you use elsewhere to register for access to a fraudster's website, be careful to change your accounts with new log-ins and passwords as quickly as possible.
4. Notify the Authorities: It is very important to notify the relevant authorities because reporting it will help speed up the recovery process. For any such queries, visit https://www.bajajfinserv.in/reach-us to report all details. You can also report to the cybercrime department in India at https://cybercrime.gov.in/. If you've been the victim of many types of fraud and aren't sure where to file a complaint, contact the police and your district attorney. If you wish to pursue an insurance claim for fraud losses, you may need to file a police report.
5. Examine Your Insurance for Financial Recovery: Check your policy to see if it covers fraud losses or reimburses for expenses connected to identity theft. It could be limited to your original investment and not expected earnings, or it could just cover costs related to the theft's consequences.
6. Consider Altering Your Habits: Lastly, remember that fraudsters are skilled at what they do, and they frequently prey on the well-educated and wealthy. However, you should think about the events or activities that preceded the fraud you experienced and foster more awareness around the same. Read about how to identify frauds and how to secure yourself from fraudsters so that you don’t become a victim again!

If you are a Bajaj customer and encounter these types of frauds, you should ignore unsolicited sales calls or emails in the name of Bajaj and immediately get in touch with us. Don't give or share credit card numbers, payment information, or personal information over the phone, by email, or via a link in an email. Fraudsters frequently impersonate members of the financial services industry. End the conversation or cancel the correspondence in such circumstances, and reach out to customer support quickly.
 

Savdhaan Rahein. Safe Rahein.