The FinTech Hub
Source: Live Mint A 48-year-old private employee in Hyderabad fell victim to a well planned credit card scam recently. He lost ₹1.8 lakhs to the scam after being deceived into revealing his credit card details over a WhatsApp video call, according to a recent report by The Hindu. The scamster impersonated an SBI Credit Card…
Source: Live Mint You can fund your overseas trip for personal/professional reasons, business or vacation with your credit card. Though credit cards offer a lot of benefits such as low forex mark-up fee, rewards and discounts on flights as well as hotel bookings for international travel, you have to be careful with your usage. There…
Source: Live Mint In today’s rapidly evolving digital age credit card transactions have now become commonplace in India. Still, instances of extremely high and incorrect charges or unauthorised transactions are not at all uncommon. That is why, clearly understanding the dispute resolution process is important for credit card users to safeguard and defend their financial…
Source: Live Mint A 53-year-old Hyderabad woman lost ₹2.29 lakh recently to a credit card scam. This isolated incident is just a pointer to increasing credit card frauds in India and an alert to credit card users to stay careful. How did the scam unfold? The victim received a call from someone posing as the…
Source: Live Mint Credit cards have become a popular option for people who want to make smart payments and earn rewards every time they make transactions. Virtual credit cards (VCCs) have taken a lead as a preferred choice of digital transactions due to the enhanced security and convenience it imparts. Safer online shopping: VCCs are…
Source: Live Mint An IT professional who had never held a credit card lost ₹98,264. Owing to her employer’s policy, she was inadvertently issued a credit card because she had a payroll account with a private bank, reported BangaloreMirror. About the case The scammer called her on January 15 from an unknown number, impersonating a…
Source: Live Mint Credit card frauds are on the rise in India, and most of them are happening through internet transactions. Rapid digitalization of payment services is also a crucial factor facilitating: credit card scams, loss of funds and identity thefts through numerous fraudulent transactions. There are some legal rights of the Indian citizens to…
Source: Live Mint Have you received products that are different from what you ordered or did not get it at all despite making the payment through your credit card? Have you been charged twice for the same product or been the victim of a fraudulent transaction? You can file a chargeback with the card issuing…
Source: Live Mint History holds significance as it helps understand past events, which aids in making sense of the present, and taking informed decisions for the future. For financial institutions (FIs), such as banks and non-banking financial companies (NBFCs), understanding the history of a customer in terms of how he/she has managed credit in the…
Source: Live Mint Using a fraudulent credit card swiping scheme, a mobile shop manager conned his former colleague and three others of ₹75 lakhs, as per a media report. With an increase in the number of users of credit cards across the nation, such scams are also gaining traction. How was the scam planned and…
