Credit Card Fraud: How to Identify and Prevent It

Credit card fraud occurs when someone uses your card details without your permission. Fraudsters may steal these details through skimming, phishing, online misuse or a data breach. If you spot a transaction you did not authorise, block your card immediately and report the transaction to your bank or card issuer. If the issue involves a Bajaj Finance card, raise a request through My Account or the app.

• Check your statements and transaction alerts regularly. Even a small, unfamiliar charge may signal attempted fraud.
• Never share your card number, CVV, expiry date, PIN or OTP with anyone.
• Block your card, report the transaction and raise a dispute through your issuer’s official process.
• Report cyber financial fraud through 1930 or the National Cyber Crime Reporting Portal, where applicable.
• Keep your statements, alerts and suspicious messages as evidence.

Your liability and the possibility of a refund depend on the circumstances and how quickly you report the fraud.

Credit card fraud occurs when someone uses your physical card, card number or related credentials to make transactions without your permission.

Fraudsters may steal your details in several ways:

• Skimming: They use a device at a compromised ATM or payment terminal to copy your card’s magnetic stripe data.
• Phishing or vishing: They send fake messages or make calls to trick you into sharing your card number, expiry date or CVV.
• Card-not-present fraud: They use stolen card details to make online purchases without having your physical card.
• Data breaches: They obtain card details exposed in a security breach involving a merchant or payment processor.
• Lost or stolen cards: Someone may use your card before you report it missing.

Watch for transactions you do not recognise, alerts for purchases you did not make, or unexpected calls asking you to verify your card details. Contact your card issuer through an official channel if you notice any of these signs. Raise a request online

Common types of credit card fraud

Note: Phishing and fake links also target UPI payments. Read how to detect UPI fraud.

How can you detect credit card fraud early?

Check your card statements and transaction alerts regularly. Early checks can help you spot suspicious activity before it leads to further unauthorised transactions.

• Review your statements: Check transactions throughout the billing cycle instead of waiting for your bill.
• Enable transaction alerts: Set up SMS, email or app notifications, where available, so you can review transactions promptly.
• Check unfamiliar merchant names: Review a transaction before deciding that it is legitimate. Contact your issuer if you cannot identify it.
• Investigate unexpected card problems: If your card stops working, contact your issuer through an official channel to check whether it has blocked the card or detected suspicious activity.
• Take small charges seriously: Fraudsters may test stolen card details with small transactions before attempting larger ones.

If you notice a transaction you did not make, do not wait for another alert. Contact your card issuer, block the card if necessary and report the transaction through its official process.

You can reduce the risk of credit card fraud by protecting your details, checking payment requests and monitoring your account.

• Protect your card details: Never share your card number, CVV, expiry date, PIN or OTP with anyone.
• Cover your PIN: Shield the keypad when entering your PIN at an ATM or payment terminal.
• Use trusted payment channels: Avoid entering card details on unfamiliar websites. Check the website address before you make a payment.
• Verify unexpected messages independently: Open your bank’s official app or website instead of clicking links in unsolicited messages.
• Enable transaction alerts: Use the notification options your card issuer provides to help you spot unfamiliar transactions.
• Report a lost or stolen card immediately: Contact your issuer through its official channel and ask it to block the card.
• Review every statement: Check your transactions each billing cycle, even if you receive alerts.

These steps can help you identify suspicious activity quickly, but they cannot guarantee that fraud will never occur.

How to raise a fraud-related request through Bajaj Finance

If a suspected fraudulent transaction involves your Bajaj Finance EMI Network Card, Insta EMI Card, or a co-branded credit card, use the official service channel to report it:

1. Sign in to the Bajaj Finance App or My Account using your registered mobile number and OTP
2. Open My Relations and select the relevant card
3. Go to Help & Support
4. Select Raise Request and choose the relevant transaction or card-related category
5. Provide the transaction date, amount, and any supporting details
6. If the card itself is compromised, use the block card option immediately, available under card management
7. Save the request reference number for follow-up

You should also report the transaction to your bank if the fraud involves a separate credit card, since Bajaj Finance can only assist with matters connected to its own card products.

1. Block the card immediately through your bank's app, customer care, or official channel to prevent further misuse
2. Report the transaction to your bank or card issuer as soon as possible, delayed reporting can increase your liability
3. Raise a dispute for the specific unauthorised transaction through your issuer's official process
4. Preserve evidence: statements, SMS alerts, and any suspicious communication connected to the fraud
5. Report cyber financial fraud through 1930 or the National Cyber Crime Reporting Portal if the fraud involved phishing, a fake website, or another cyber element

For the full recovery steps, read how to get your money back after a scam.

What are the customer liability rules for card fraud?

Customer liability for an unauthorised card transaction depends on the circumstances and how quickly it's reported, under RBI's framework for unauthorised electronic banking transactions:

• Bank negligence or deficiency: Zero liability if the unauthorised transaction resulted from the bank's own negligence or a deficiency on its part
• Third-party breach: Zero liability if neither the bank nor you were responsible for the breach, provided you report it within three working days of receiving the transaction alert
• Delayed reporting: Reporting after three working days may result in limited liability for certain third-party breaches
• Your own negligence: If the loss stems from sharing your card details or PIN, you bear the loss until you report it; transactions after reporting are treated differently

Amounts covered under the zero or limited liability framework must generally be credited back to your account within 10 working days of your notification.