Vishal Mittal, an SAP Certified Consultant, reported a fraud of ₹80,000 from his IndusInd Bank Credit Card due to a SIM Swap + UPI scam. Despite FIR and complaint filing, IndusInd Bank has not resolved the matter. Read full details and customer awareness guide.
Complaint Summary Table : IndusInd Bank Credit Card Scam Complaint – Vishal Mittal Reports ₹80,000 Fraud
| Field | Details |
|---|---|
| Complainant Name | Vishal Mittal |
| Profession | SAP Certified Development Specialist at EY |
| Company Involved | IndusInd Bank |
| Product/Service | IndusInd RuPay Platinum Credit Card |
| Complaint Date | 6th August 2025 |
| Issue Reported | SIM Swap + UPI Fraud of ₹80,000 |
| Actions Taken | Complaint registered with Cyber Crime, FIR filed, proofs submitted |
| Pending Resolution | No proper action or refund by IndusInd Bank |
| LinkedIn Source | Original Post |
Detailed Complaint Report
On 6th August 2025, Vishal Mittal, a SAP Certified Consultant at EY, reported a major fraud involving his IndusInd RuPay Platinum Credit Card.
The fraudulent activity occurred due to a SIM Swap attack combined with UPI transactions, leading to unauthorized usage of ₹80,000. What makes this case more concerning is that the fraud happened:
- Without OTP verification
- Without sharing any card details
- Without Vishal’s authorization
Actions Already Taken by the Complainant
- Cyber Crime Complaint Filed: Vishal has already reported the matter to Cyber Crime authorities.
- FIR Registered: A formal FIR was filed, and proof of fraudulent transactions was submitted.
- Emails to IndusInd Bank: Multiple reminders were sent since 11th August, but there has been no resolution or shadow credit provided.
Current Situation
Despite timely reporting and following RBI’s fraud reporting guidelines, IndusInd Bank has not provided a satisfactory resolution. This raises concerns about customer safety, transparency, and accountability in handling fraud cases.
About the Complainant – Vishal Mittal
Vishal Mittal is a well-qualified professional with expertise in SAP ABAP on HANA 2.0. He is currently working as a consultant at EY and has a strong reputation in the IT industry. His decision to publicly raise this issue reflects his determination to ensure corporate accountability and consumer awareness.
About the Company – IndusInd Bank
IndusInd Bank, a leading private sector bank in India, offers a wide range of retail and corporate financial products. While known for its innovative banking services, cases like this highlight the gaps in fraud protection and customer grievance redressal mechanisms.
With increasing cases of credit card frauds, SIM swaps, and unauthorized UPI transactions, it is crucial for banks like IndusInd to:
- Provide timely shadow credit for disputed transactions
- Ensure strong fraud detection systems
- Offer prompt customer support during such emergencies
Customer Awareness – How to Stay Safe from SIM Swap & UPI Frauds
- Monitor Mobile Network: If your SIM card suddenly loses signal, contact your telecom operator immediately.
- Enable Bank Alerts: Activate SMS and email alerts for every debit/credit transaction.
- Do Not Share OTPs or PINs: Even with bank officials.
- Use Strong Security: Prefer UPI PINs with biometric lock for additional safety.
- Report Immediately: File a complaint with the bank and Cyber Crime within RBI timelines (3 days) to avoid liability.
Q&A for Consumer Awareness
Q1. What is a SIM Swap Fraud?
A SIM Swap fraud occurs when fraudsters duplicate your SIM card by tricking your telecom operator, allowing them to receive your OTPs and access your bank account.
Q2. How can SIM Swap lead to Credit Card fraud?
Once fraudsters gain control of your phone number, they can bypass OTP-based verification and misuse linked credit/debit cards.
Q3. How did fraud occur without OTP in Vishal’s case?
Modern fraudsters exploit loopholes in UPI & RuPay credit card integrations, bypassing OTP in certain merchant transactions.
Q4. What steps should one take after discovering such fraud?
Immediately block your card, contact your bank, file a Cyber Crime complaint, and register an FIR.
Q5. Is the customer liable for fraud losses?
As per RBI guidelines, if a fraud is reported within 3 working days, the customer is not liable for unauthorized transactions.
Q6. Why hasn’t IndusInd Bank refunded the money yet?
Banks often delay refunds, citing investigation. However, RBI requires shadow credit until final resolution.
Q7. Can victims of fraud approach RBI or Ombudsman?
Yes, if the bank delays or denies rightful resolution, customers can file a complaint with the Banking Ombudsman.
Q8. What is Shadow Credit?
It is a temporary credit provided by banks to fraud victims until investigations are completed.
Q9. What is the role of Cyber Crime in such cases?
Cyber Crime authorities track fraudulent accounts, freeze transactions, and investigate digital fraud trails.
Q10. What evidence should be kept after fraud?
Keep transaction IDs, SMS alerts, bank statements, FIR copy, and email proofs.
Q11. How long does it take to recover money in such frauds?
It varies, but banks are expected to resolve within 90 days as per RBI timelines.
Q12. Can SIM Swap be prevented?
Yes. Enable SIM lock PIN, avoid sharing personal details online, and monitor sudden network disruptions.
Q13. Why are RuPay Credit Cards often targeted?
Because some merchants allow PIN-less small transactions, making them vulnerable if fraudsters bypass OTP.
Q14. What should customers demand from IndusInd Bank in such cases?
Immediate shadow credit, transparent updates, and adherence to RBI guidelines.
Q15. What happens if banks fail to comply with RBI rules?
Customers can escalate the case to the Banking Ombudsman or even take legal action.
Q16. What is UPI Fraud?
Fraudsters trick users into making payments via UPI by posing as merchants, job providers, or lottery agents.
Q17. Why is timely reporting important?
Delays in reporting fraud increase liability on the customer and reduce chances of recovery.
Q18. Can insurance cover credit card frauds?
Some premium cards offer fraud protection insurance, but terms vary.
Q19. How can banks improve fraud prevention?
By adopting AI-based fraud detection, strengthening two-factor authentication, and providing 24×7 human support.
Q20. What lesson can other consumers learn from Vishal’s case?
Always stay alert, never ignore sudden SIM issues, and report fraud immediately to minimize losses.
Conclusion – Need for Stronger Customer Protection
The case of Vishal Mittal vs IndusInd Bank highlights the urgent need for better fraud handling mechanisms by Indian banks. Despite FIR and timely reporting, customers often face delays in justice.
Such incidents not only cause financial loss but also emotional distress, and banks must step up to safeguard their customers.
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