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Submit your complaint →Abhishek Chauhan reports unauthorized massive transaction on his father’s Visa Signature card. Axis Bank failed to act despite RBI guidelines. Full complaint, legal options, authorities involved, and Choice4Voice.com support explained.
Complaint Summary : Axis Bank Fraud Complaint: Unauthorized Transaction on Visa Signature Card Raised by Abhishek Chauhan
| Details | Information |
|---|---|
| Complainant Name | Abhishek Chauhan |
| Not disclosed | |
| Complaint Type | Unauthorized Transaction / Bank Negligence |
| Company/Brand | Axis Bank |
| Product/Service | Visa Signature Card |
| Transaction Date | Not disclosed |
| Transaction Amount | Massive / Unauthorized |
| Issue Description | A scammer exploited the complainant’s father’s Visa Signature card and executed a large unauthorized transaction. Axis Bank failed to protect funds or comply with Visa’s chargeback policy despite multiple follow-ups. |
| Company’s Response | Delayed responses with no resolution. No urgent action taken. |
| Location | India |
Full Complaint Write-up
Abhishek Chauhan, an International Relations and Finance Specialist, faced a serious case of bank negligence and unauthorized debit.
Within just three minutes, a fraudster used his father’s Visa Signature card to perform a large-scale fraudulent transaction. Despite Axis Bank being responsible for transaction monitoring and RBI-mandated risk mitigation, no alerts were triggered, and no immediate measures were taken.
Even after repeated requests and escalation attempts:
- Axis Bank refused to fully comply with Visa’s chargeback policy.
- Responses were delayed and non-committal.
- The complainant was left without adequate support or assurance of fund recovery.
This breach of consumer trust, financial security, and data protection reflects poorly on Axis Bank’s internal controls and accountability. The complainant stresses that banks must prioritize safeguarding customer funds and personal data, and failure to act violates both RBI guidelines and Visa’s operational protocols.
How Choice4Voice.com Can Help
Choice4Voice.com assists consumers like Abhishek in multiple ways:
- Public Awareness: Publishing verified complaints ensures brands respond promptly to avoid reputational damage.
- Legal Guidance: Informing customers about their rights under banking, RBI, and cybercrime laws.
- Complaint Drafting: Preparing detailed letters for escalation to Axis Bank, Visa, RBI, and consumer forums.
- Step-by-Step Support: Guiding consumers through chargeback requests, cybercrime reporting, and escalation to regulatory authorities.
- Amplifying Consumer Voice: Sharing complaints on LinkedIn and other channels to pressure banks for immediate action.
Legal Cases That Can Be Filed
- Consumer Protection Act, 2019
- Filing for compensation due to bank negligence and financial loss.
- RBI Complaint / Banking Ombudsman
- For unauthorized transactions and delayed chargeback.
- RBI mandates banks to provide timely resolution for fraud.
- Cybercrime Complaint (IT Act, 2000)
- Reporting unauthorized digital financial transactions.
- Visa Dispute / Chargeback Request
- Filing directly with Visa International for reversal of fraudulent charges.
Departments Where Complaints Can Be Filed
- Banking Ombudsman, RBI – For unauthorized transactions and delayed resolution.
- Cybercrime Cell / National Cyber Crime Portal – For card fraud and data breach.
- Visa International – For chargeback claims.
- District Consumer Forum – For financial loss due to negligence.
- Axis Bank Escalation Desk – For immediate resolution.
Step-by-Step Complaint Filing Guide
- Contact Axis Bank
- File a written complaint requesting immediate chargeback.
- Keep all transaction statements and communication records.
- Escalate to RBI Banking Ombudsman
- Use RBI Ombudsman Portal to lodge a formal grievance.
- File Cybercrime Complaint
- Register on cybercrime.gov.in with details of unauthorized debit.
- Initiate Visa Chargeback
- Submit a formal chargeback request through the card provider.
- Consumer Forum Complaint
- File for compensation under Consumer Protection Act, 2019.
Pre-Drafted Complaint Template (Bank / RBI)
To,
The Branch Manager / RBI Banking Ombudsman,
Axis Bank
Subject: Urgent Action Required for Unauthorized Transaction on Visa Signature Card
Respected Sir/Madam,
I, Abhishek Chauhan, am reporting a fraudulent transaction on my father’s Visa Signature card. A scammer exploited the card within minutes, and Axis Bank failed to provide timely alerts or protect funds. Despite repeated follow-ups, the bank has not complied with Visa’s chargeback policy.
I request immediate reversal of the transaction, compliance with RBI guidelines, and accountability from Axis Bank officials responsible for the lapse.
Sincerely,
Abhishek Chauhan
Author Section
About the Author:
Abhishek Chauhan is an International Relations and Finance Specialist with expertise in banking, digital payments, and financial risk management. Through this complaint, he highlights systemic gaps in online banking security, chargeback processes, and RBI compliance, aiming to protect consumers from financial fraud.
Q&A Section
1. What is an unauthorized transaction?
A transaction executed without the consent of the cardholder, often by fraudsters using stolen card details.
2. Is the bank liable for card fraud?
Yes, under RBI guidelines, banks must monitor, alert, and reverse unauthorized transactions promptly.
3. What is Visa’s chargeback policy?
Visa allows customers to request reversal of fraudulent transactions through the bank. Banks must act immediately to reverse or credit the disputed amount.
4. How long does RBI require banks to resolve fraud complaints?
Typically 30 days for disputed transactions, as per RBI circulars.
5. Can a consumer approach cybercrime authorities?
Yes. Cybercrime portals allow reporting unauthorized digital financial transactions, which can trigger legal investigation.
6. Can I claim compensation for mental stress due to bank negligence?
Yes, under Consumer Protection Act, 2019, you can claim both refund and compensation.
7. What documents are needed for filing?
- Card statements showing unauthorized transactions
- Written communications with Axis Bank
- Visa card details (masked for privacy)
- ID proof of the cardholder
8. What is RBI Banking Ombudsman?
A quasi-judicial authority to resolve customer complaints against banks without going to court.
9. How can Choice4Voice.com assist in this case?
- Drafting complaints
- Guiding escalation to RBI and cybercrime cells
- Amplifying the issue publicly for accountability
10. Can legal action be taken against Axis Bank officials?
Yes, for negligence, violation of RBI guidelines, and financial misconduct.
11. Does the bank have to reverse the entire fraudulent amount?
Yes, as per RBI and Visa chargeback rules, full reversal is required unless proven otherwise.
12. Can this case be escalated to a consumer forum?
Yes, for financial loss, stress, and negligence by the bank.
13. How soon should the chargeback process start?
Immediately after reporting to the bank; RBI mandates urgent action.
14. Can RBI penalize the bank for delay?
Yes, RBI can issue fines and directions for process improvement.
15. Can the customer sue for additional damages?
Yes, under Consumer Protection Act and IT Act for cyber-related negligence.
16. How long does cybercrime investigation take?
Depends on the case, usually 1–3 months for preliminary action.
17. Is online banking safer than physical banking?
It can be, but banks must implement real-time monitoring, alerts, and risk mitigation systems.
18. Can Choice4Voice.com escalate to Visa International?
Yes, we guide customers on submitting chargeback disputes with Visa.
19. What are the first steps a customer should take after fraud?
- Immediately block the card
- Report to bank and cybercrime portal
- Collect proof and escalate through Ombudsman
20. How can customers prevent such frauds?
- Enable transaction alerts
- Use strong authentication methods
- Monitor accounts regularly
