Published Jul 3, 2025 4 Min Read

What is Third-Party Fraud?

In today’s digital-first world, financial fraud is becoming increasingly sophisticated, targeting unsuspecting individuals through various channels. Third-party fraud, also known as 3rd party fraud, is one such growing concern, where fraudsters manipulate personal information or financial data without authorisation.

As a trusted NBFC in India, Bajaj Finserv prioritises your financial security. With advanced fraud detection tools, secure account management protocols, and RBI-compliant practices, Bajaj Finserv equips customers with the means to safeguard their accounts and report suspicious activities effectively.

Third-party fraud occurs when unauthorised individuals gain access to your financial data or accounts to exploit them for personal gain. These fraudsters often use deceptive tactics, such as phishing, fake loan offers, or social engineering, to trick victims into sharing sensitive information.

Common types of third-party fraud

  1. Phishing scams: Fraudsters send fake emails or SMS messages impersonating legitimate companies to steal login credentials or financial data.
  2. Fake loan offers: Unsolicited loan offers, often shared via WhatsApp or social media, lure victims with false promises of quick approvals.
  3. Digital wallet misuse: Fraudsters exploit weak security measures to access digital wallets and make unauthorised transactions.
  4. Counterfeit customer service calls: Scammers pose as representatives of Bajaj Finserv to request sensitive details under the guise of account verification or issue resolution.

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How it impacts Bajaj Finserv customers

Third-party fraud can have serious consequences for Bajaj Finserv customers, including:

  • Unauthorised loan applications: Fraudsters may use stolen data to apply for loans in your name.
  • Misuse of Bajaj Finance EMI Network Card: Fraudsters may exploit your card details for unauthorised purchases.
  • Exploitation of personal data: Sensitive information, such as Aadhaar or PAN details, may be used for illegal activities.

How Bajaj Finserv Detects Third-Party Fraud?

Bajaj Finserv employs advanced security measures to protect its customers from fraud. These include:

  • AI-powered fraud detection systems: Intelligent algorithms monitor account activity to identify unusual patterns and flag potential risks.
  • Secure login protocols: Multi-factor authentication, including OTP verification, ensures that only authorised users can access accounts.
  • Fraud alerts: Customers receive notifications for suspicious transactions or login attempts, enabling prompt action.

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Actionable reassurance

If you spot anything unusual in your Bajaj Finserv account, sign in immediately and raise a dispute. Bajaj Finserv’s customer support team is available to assist you in resolving any issues.

 

How to Report Third-Party Fraud?

Reporting fraud incidents promptly is crucial to minimising risks and protecting your account. Bajaj Finserv provides a straightforward process for reporting third-party fraud:

  1. Sign in to your Bajaj Finserv account using your registered credentials.
  2. Navigate to the “Service” section and locate fraud-related options.
  3. Select the relevant account and use the “Raise a Dispute” feature to report the issue.
  4. If further assistance is required, contact Bajaj Finserv’s customer support via the chatbot or helpline.

Bajaj Finserv’s support systems are designed to help customers resolve disputes effectively and in compliance with RBI guidelines.

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Third-party fraud is a significant threat in today’s financial landscape, but proactive measures can help mitigate risks. Bajaj Finserv offers advanced fraud detection tools, secure account management protocols, and dedicated customer support to ensure your financial safety.

Your security is our priority. Stay vigilant, take control of your financial safety, and leverage Bajaj Finserv’s tools and support for fraud protection. Sign in to your Bajaj Finserv account to review your profile, report fraud, or update your details today.

By understanding the risks and taking timely action, you can protect your finances and enjoy peace of mind with Bajaj Finserv’s trusted support.

Frequently Asked Questions

Can I recover money lost to third-party fraud?

Recovery depends on the fraud's nature and timely reporting. Bajaj Finserv helps by initiating dispute processes and guiding affected users. While resolution isn’t guaranteed, prompt action and cooperation during investigation improve the chances of recovery.

Are WhatsApp loan offers from Bajaj Finserv legitimate?

No. Bajaj Finserv does not send loan offers through WhatsApp. Such messages are likely fraudulent. Always verify loan offers and communications through Bajaj Finserv’s official website, app, or customer support channels before responding or sharing personal information.

How do fraudsters misuse digital wallets?

Fraudsters trick users into revealing confidential data like OTPs, PINs, or passwords. They then exploit this information to access digital wallets and make unauthorised transactions. Weak device security and phishing tactics are commonly used to carry out such fraud.

Does Bajaj Finserv offer fraud alerts for suspicious activity?

Yes. Bajaj Finserv uses AI-driven systems to monitor accounts for suspicious behaviour. If unusual activity is detected, users receive instant fraud alerts through SMS, email, or app notifications, enabling them to take swift action and secure their accounts.

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Bajaj Finserv App for All Your Financial Needs and Goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Explore and apply for co-branded credit cards online.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on easy EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

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