- Report this article
Sudhir Rao
Sudhir Rao
Advocate at Supreme Court of India & High Court of Delhi | š¯‘©š¯‘Ŗš¯‘Ø | š¯‘´š¯‘Ŗš¯‘Ø | š¯‘³š¯‘³.š¯‘© | š¯‘³š¯‘³.š¯‘´ Criminal & Cyber Crime Lawyer | IPR, Property Law, Education Law, Service Law, Banking & Insurance Law, Arbitration, RERA..
Published May 18, 2024
+ Follow
Will My Bank Refund My Money?
Being scammed online is a terrible experience, and the financial loss can add insult to injury. In India, getting your money back depends on several factors, but banks do have policies in place to help in certain situations. Here's a breakdown of what to expect:
Understanding Bank Liability:
The Reserve Bank of India (RBI) has guidelines outlining customer liability for unauthorized electronic banking transactions. These guidelines determine whether or not your bank will reimburse you for scammed funds.
Crucial Timeframe: The faster you report the fraud, the better. Here's the breakdown based on reporting timespan:
Recommended by LinkedIn
Factors Affecting Reimbursem*nt:
Taking Action After Fraud:
Alternatives to Bank Reimbursem*nt:
Remember:
By understanding RBI guidelines, acting swiftly, and gathering evidence, you increase your chances of getting your money back from the bank. However, staying vigilant and practicing safe online habits remain the best defense against online scams.
Like
Celebrate
Support
Love
Insightful
Funny
mohan sk
Materials Manager at xyz
1mo
- Report this comment
Cyber scam include fraud accounts compromise kyc process and with bank support. In that scenario please suggest .. bank responsibility and other options open as customer dependent on foolproof banking system and genuine account holder not cyber fraudulent account with bank support
1Reaction 2Reactions
Manju Kumari
Science Teacher at Maharishi Vidya Mandir Senior Secondary School
2mo
- Report this comment
If scammed through fraud crypto currency company will money be recover
1Reaction
See more comments
To view or add a comment, sign in
More articles by Sudhir Rao
-
Lok Adalat Token Traffic Police e-challans - 2024
Sep 8, 2024
Lok Adalat Token Traffic Police e-challans - 2024
SLSA & Delhi Traffic Police Organising National Lok Adalat on 14th September 2024: A Step Towards Quick Resolution ofā€¦
6
2 Comments
-
How to unfreeze a P2P bank account?
Aug 3, 2024
How to unfreeze a P2P bank account?
How to unfreeze a P2P bank account? Is the first question that comes to our mind when we see our bank account gotā€¦
8
-
How to get an account unblocked in cyber crime?
Aug 3, 2024
How to get an account unblocked in cyber crime?
How to get an account unblocked in cyber crime? Is the first question that comes to our old mind when we see our bankā€¦
7
-
Ly26 Dhan Raise Pyramid Learning App: Another Trading Cyber Crime Fraud
Jul 26, 2024
Ly26 Dhan Raise Pyramid Learning App: Another Trading Cyber Crime Fraud
Fake Groups In the ever-evolving landscape of cyber threats, the Ly26 Dhan Raise Pyramid Learning App has recentlyā€¦
4
1 Comment
-
How to remove lien amount in Kotak bank account
Jul 25, 2024
How to remove lien amount in Kotak bank account
Below is one of the court order in which the applicants account got frozen by cyber police station, Gurgaon and Iā€¦
4
3 Comments
-
Cyber police to hold the money in account in india
Jul 25, 2024
Cyber police to hold the money in account in india
Below is one of the court order in which the applicants account got frozen by cyber police station, Gurgaon and Iā€¦
2
-
When Lien Amount Will Be Credited to My Bank Account in Cyber Crime Cases
Jul 24, 2024
When Lien Amount Will Be Credited to My Bank Account in Cyber Crime Cases
In the unfortunate event of a cybercrime, understanding the intricacies of financial recovery can be crucial forā€¦
3
1 Comment
-
How to Remove Lien From Bank Account - Cyber Crime
Jul 24, 2024
How to Remove Lien From Bank Account - Cyber Crime
Below is one of the court order in which the applicants account got frozen by cyber police station, Gurgaon and Iā€¦
3
-
Jul 20, 2024
Stages & Essentials of Crime Under Bharatiya Nyaya Sanhita 2023 (BNS)
Essentials of Crime: 1. Mens Rea: The Guilty Mind: - Mens Rea, or the guilty mind, pertains to the mental state of theā€¦
4
-
Further Investigation After Filing of Chargesheet Under BNSS: A Detailed and Easy-to-Understand Overview
Jul 20, 2024
Further Investigation After Filing of Chargesheet Under BNSS: A Detailed and Easy-to-Understand Overview
Understanding Supplementary Chargesheets In the legal field, it's common to encounter situations where an Investigatingā€¦
1
See all articles
Sign in
Stay updated on your professional world
Sign in
By clicking Continue to join or sign in, you agree to LinkedInā€™s User Agreement, Privacy Policy, and Cookie Policy.
New to LinkedIn? Join now
Insights from the community
- Financial Services What are the best practices for handling chargebacks and disputes in Merchant Services?
- Financial Services What are the most effective ways to recover funds lost to chargebacks?
- Electronic Funds Transfer How can you detect ACH fraud before it's too late?
- Financial Services What are the common causes and signs of chargeback fraud in your industry?
- Teller Operations How do you collaborate with other bank departments or external agencies in bank fraud investigations?
- Payment Systems You've encountered unauthorized charges on your account. How can you effectively address the situation?
- Payment Systems How can small businesses reduce chargeback risks?
- Banking Relationships What are the signs of a wire transfer scam?
- Real Estate How do you handle closing funds from a cashier's check or money order?
- Payment Systems You're faced with unauthorized transactions on an account. How should you handle the client's complaint?
Others also viewed
- Payment Fraud Recovery: Steps to Take After Your Bank Account is Hacked. Matrix3D Infocom Private Ltd. 1y
- Financial Fraud: The Growing Threat in Digital Transactions Nizamudheen Valliyattu 1y
- Stamping Out Invoice Fraud in Lending and Asset Financing Sean Quagliani 1mo
- Bank scams have been on the rise for several months. Haris Fotso 1y
- What are the Types of Fraud Done by Bank Cheque? Dr. Hassan Elhais 2y
- What are the types of fraud done by bank cheque? Dr. Hassan Elhais 2y
- 6 crore fraud in payout Nishant Tyagi 3mo
- THE FAKE BANK PAYMENT SLIP SCAM: HOW TO SPOT AND AVOID IT Hacker Rangers Security Awareness 1y
- Bank Fraud ā€“ Types and prevention strategies fraud.com 11mo
- Just implement the new regulations to prevent APP (Authorised Push Payment) fraud. John Bertrand 1mo
Explore topics
- Sales
- Marketing
- IT Services
- Business Administration
- HR Management
- Engineering
- Soft Skills
- See All