This happened to me and I am writing this so that you all can be aware of such fraud happenings around us everyday.
In today’s world internet is blooming and so is online business. One can find almost everything one needs for day to day life through online shopping. I myself buy lots of electronic goods and accessories through online stores. Booking of railway tickets and LIC premium payments are made using credit card or net banking facility.
Couple of months back, I had to purchase one software for my official use and hence I used my credit card to pay the same in USD. That particular website through which I made the purchase was associated with Paypal and the payment gateway was through Paypal website. So I had no choice but to register with Paypal. I used my ICICI bank credit card (my first credit card). Paypal has the policy to first register the card on their website which includes 16 digit card number, name of the card holder, date of expiry of the card. This is a mandatory step and being an IT techie I don’t like to register such details on any websites but was forced to enter it as per Paypal policy.
The payment was successfully done and when I tried to delete my Credit card details which had got saved in the Paypal website, it did not allowed me to do so. Upon calling their Help Centre, I was being told that once the payment is successfully cleared from my credit card bank, then only I can remove the details which will normally take 48-72 hours. Now this was ridiculous and not acceptable at all. But again I was left with no option and had to remember to login on the Paypal website after 2-3 days and delete the details.
As usual, I am quiet forgetful and forgot this too. And just few days back I received two SMS on my cell and even emails mentioning that there were two transactions of 50$ each from my credit card thru Paypal website. I got shocked on receiving such acknowledgements, as no transactions were done by me. I logged into the Paypal site and saw details of the 2 online payment done to some company in China. I immediately called up ICICI bank customer care and informed them about the illegal transaction and asked them to stop the payment ASAP. Then next step was to call Paypal Help Centre team and I was informed to file illegal/fraud transaction complaint online through the website only. Though this happened on a weekend and luckily I was at home so I could do it immediately. If I had not reported this fraud immediately then my money would have got debited from my card and then nothing could have been done.
After seven working days, from the time the complaint was filled with Paypal, I finally got the confirmation from Paypal that the transaction was illegally done through some other country and I was not liable to pay anything. This gave me a sigh of relief (although the amount was not big but why I should bear the amount which was fraud). This time my immediate step was to clear my credit card details and delete my profile from Paypal. I also deactivated my old credit card and in-return ICICI issued me a fresh card with new card number.
In India, there is no provision if any such frauds happens with you wherein your insurance company pays back the amount to you if it is an illegal transaction.
But thanks to the technology (sms, emails) which helped me from becoming one more victim of fraudulent cases.