In India, most owners prefer credit or make reservations online purchases using their credit cards. Even some of the booking sites have deals for clients such as booking airline tickets online and the customer earns reward points that can be redeemed against a free trip to some place good.
recently for secure online transactions of the Reserve Bank of India made it mandatory to have another PIN (personal identification number). Some of you may think that the RBI forced to take this action? So how can you use your card online safe?
Let's try to get answers to our questions.
In recent times there has been an increase of online fraud. The cyber-crime Police seized Mumbai Cell Ajay Patel who booked tickets online Kingfisher Airlines with 50 credit cards of ICICI Bank. The procedure adopted was to change the last 2 digits of the card and use a new PIN code on each card he used all his colleagues in Bangalore printed the tickets and sold them to unsuspecting travelers to reduced rates. ICICI Bank obtained during these operations suspicious and started to keep a watchful eye on bookings made online at Kingfisher made by credit card and discovered a strange trend in operations performed by a particular user card credit. Hence, the bank has been able to trace the fraud.
When the bank contacted the particular user, he was informed that he was totally ignorant of the transactions and the bank filed a complaint with the Crime Cell of Mumbai police computer.
There was a similar case of a user whose account Citibank of Rs 100.500 has been transferred to another account and filed a complaint. These are some cases of online fraud is using credit cards, there are many more.
If it is unable to eliminate, at least try to control online fraud involving credit cards. RBI has made it mandatory to use a different PIN for all online transactions involving credit cards.
In this new standard RBI for processing online transactions additional authentication or validation is necessary, not using the information shown on the map.
In the case of a single transaction the purchase made is more than Rs 5000 through a credit card, the customer gets a report of its online bank if the card is not present. For non-compliance with these guidelines, the customer will be fined by the rules mentioned in Payment and Settlement Act 2007 (Act 51 of '07).
In India, most owners prefer credit or make reservations online purchases using their credit cards. Even some of the booking sites have deals for clients such as booking airline tickets online and the customer earns reward points that can be redeemed against a free trip to some place good.
recently for secure online transactions of the Reserve Bank of India made it mandatory to have another PIN (personal identification number). Some of you may think that the RBI forced to take this action? So how can you use your card online safe?
Let's try to get answers to our questions.
In recent times there has been an increase of online fraud. The cyber-crime Police seized Mumbai Cell Ajay Patel who booked tickets online Kingfisher Airlines with 50 credit cards of ICICI Bank. The procedure adopted was to change the last 2 digits of the card and use a new PIN code on each card he used all his colleagues in Bangalore printed the tickets and sold them to unsuspecting travelers to reduced rates. ICICI Bank obtained during these operations suspicious and started to keep a watchful eye on bookings made online at Kingfisher made by credit card and discovered a strange trend in operations performed by a particular user card credit. Hence, the bank has been able to trace the fraud.
When the bank contacted the particular user, he was informed that he was totally ignorant of the transactions and the bank filed a complaint with the Crime Cell of Mumbai police computer.
There was a similar case of a user whose account Citibank of Rs 100.500 has been transferred to another account and filed a complaint. These are some cases of online fraud is using credit cards, there are many more.
If it is unable to eliminate, at least try to control online fraud involving credit cards. RBI has made it mandatory to use a different PIN for all online transactions involving credit cards.
In this new standard RBI for processing online transactions additional authentication or validation is necessary, not using the information shown on the map.
In the case of a single transaction the purchase made is more than Rs 5000 through a credit card, the customer gets a report of its online bank if the card is not present. For non-compliance with these guidelines, the customer will be fined by the rules mentioned in Payment and Settlement Act 2007 (Act 51 of '07).
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