RBI Refund Policy: In today’s time, payment through UPI and debit-credit cards has become an important part of people’s lives. Be it a small shop or a big shopping mall, people everywhere now use digital payment instead of cash. But as digital payments are increasing, the cases of online fraud and cyber fraud are also increasing. In such a situation, the rules of the Reserve Bank of India (RBI) work to provide security and relief to the customers.

According to RBI, if money is deducted from your account due to fraud or technical fault and you inform the bank within 5 days, then you can get the entire money back under zero liability. That is, if there is no fault of the customer in this fraud, then the bank will have to return the entire amount. However, in many cases, if you file a complaint, the bank is required to resolve the entire matter within 90 days.

Refunds are given on the basis of responsibility

Usually the bank decides the refund on the basis of your responsibility and fault.

• Zero Liability: If this fraud has happened due to the bank’s mistake or system error and it is not your fault, then you will get the entire money back.
• Limited Liability: If you delay in filing the complaint, i.e. not within 5 to 6 days, then only a part of your loss will be refunded.
• Full Liability: If fraud occurs due to your small mistake in sharing OTP, PIN or CVV, then it may be difficult to get a refund.

Big relief from RBI to pensioners, even if excess money comes into the account, banks will not be able to deduct even one rupee without informing.

What to do immediately in case of fraud?

If you too get cheated online, then instead of panicking, take these steps as soon as possible. With this you can get your money back soon.

• Immediately give information and card to the bank, get UPI blocked.
• Call cyber crime helpline number 1930
• Change all your banking passwords and UPI PIN
• Check your bank statement carefully and report unknown transactions
• Keep the complaint number and evidence safe with you.
• Register an FIR if necessary

Easy way to avoid fraud

• Do not share OTP, PIN and password with anyone.
• Never trust any unknown link or number
• Use only official apps and websites
• Always verify carefully before making UPI payment.

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Imagine, you are sitting at home and suddenly you get a call. The person in front calls himself an officer of police, CBI or any government agency. It says that an illegal parcel has been detected in your name or some serious crime related to your Aadhaar has come to light. In panic, before you can understand anything, you get the threat of ‘digital arrest’. In such a situation, the question arises, where did the scammers get your number and personal information? This is what we know in this article.

Why is online fraud increasing rapidly?

Cases of online fraud are continuously increasing in the country. Sometimes sextortion, sometimes cheating in the name of work from home, sometimes fake investment schemes, now the methods of scammers have become more dangerous than before. They don’t just call, but talk about you with full preparation. They know your name, address, mobile number and sometimes even information related to Aadhaar or bank. This is the reason why people easily believe his words.

Where do scammers get your data from?

Often people have this question in their mind that how does so much information of a common man reach the scammers? There are many ways behind this, through which your personal information gradually comes into their hands.

Data leak: the biggest reason

Data leak has become the biggest reason for cyber fraud today. Many times, users’ data gets leaked from an app, website or company’s server. This data is sold on the dark web, where scammers buy it. It contains phone number, email, address and sometimes even identity related information. Apart from this, registering a number in a shopping mall, hotel, online form or for any service can also be risky. If the security there is weakened, then the same data can reach the wrong hands.

Trap of phishing emails and fake websites

Phishing is still the most common and effective method. Scammers send links via SMS, email or WhatsApp that look like bank, delivery company or government websites. As soon as you click on the link, a fake website opens. Here you are asked for login details, OTP or card number. Many times, spyware gets installed in the phone without informing you, which keeps an eye on your activities and passes the data on to scammers.

Phone Call Scam: The Art of Tricking

Many scammers call pretending to be bank employees, customer care or officials of any government department. They talk so clearly that the other person does not even doubt. During the conversation, they ask small details and gradually prepare a complete profile. This information is later used in big frauds.

Social media opens up your life

Social media is also a treasure trove for scammers. From the pictures and posts posted on Facebook, Instagram or LinkedIn, they can guess your age, birthday, job, city and even relationships. Using this information they take you into confidence and say that they know everything about you. This increases both fear and trust.

What is the truth of ‘digital arrest’

Digital arrest is not actually a legal process. This is completely a cyber scam. In this, fraudsters make video calls or phone calls by pretending to be police, CBI, ED or customs officers. They use fake IDs, fake documents and intimidating language.
They say that you are under investigation and are currently under digital surveillance. You are then forced to transfer money or provide personal information. The truth is that no government agency makes arrests over the phone like this.

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