In an online fraud, the first few hours matter most, because money moved through UPI or net banking can often be stopped in the next account if it is reported quickly.
Immediately
- Call 1930, the national cyber crime helpline, and give the transaction details.
- Register a complaint on cybercrime.gov.in and keep the acknowledgement number.
- Inform your bank in writing (email or the bank's app) and ask for the card, UPI or net banking to be blocked. Note the date and time of reporting.
- Keep screenshots of messages, call logs, the UPI transaction ID and the bank statement.
Your liability to the bank
Under the Reserve Bank of India's circular on customer protection in unauthorised electronic banking transactions (06.07.2017), a customer has zero liability where the fraud occurs due to a deficiency on the bank's part, or due to a third-party breach reported within three working days. Delayed reporting increases the customer's share of the loss. Where the customer shared an OTP or PIN, the bank will usually treat the loss as the customer's responsibility until it is reported.
The offences
Such frauds are generally covered by Sections 66C (identity theft) and 66D (cheating by personation using a computer resource) of the Information Technology Act, 2000, and cheating under Section 318 of the Bharatiya Nyaya Sanhita, 2023.
Recovering the money
Amounts put on hold in the recipient accounts are released to the victim on an order of the competent court after investigation. Where the bank wrongly refuses to reverse an unauthorised transaction, a complaint to the Banking Ombudsman or the Consumer Commission may also lie.
This article is general information on the law as it stood when written. It is not legal advice. Every service matter turns on its own service record, rules and orders, which should be examined before any step is taken.