[Resolved]  HSBC Credit Card — Cheating?

Address:

Mumbai City, Maharashtra

My HSBC credit card account was subjected to three online fraudulent transactions amounting to 54,117/- in Jan - 2010. The bank approved all transactions ignoring my reply to their telephonic as well as e-mail alerts. I was told that I just have to dispute to get a reversal. Resolution to the dispute said these transactions went through Verified by Visa, hence I am liable to pay. I was facing problem in loging in to my credit card account and had proof (blessing in disguise). Immediately I registered a police complaint. Appealed to Nodal Officer of HSBC regarding the previous conclusion - no reply. Hence approached Banking Ombudsman. When Banking Ombudsman forwarded my complaint to Nodal Officer, She replied - twisted the earlier statement by bank. She said I alleged that the transactions went through Verified by Visa, it is wrong, it went through 'card security feature' which is nothing but card number, expiry date, cvv and my date of birth. These all details are with HSBC as well as its call centre agencies, and is visible on my card when I give it for any transaction. No password or information generated by me was used for these transactions. Though I requested repeatedly in writing, the bank kept silent on the transaction details. Banking Ombudsman some how got convinced by the 'card security features' and dismissed my complaint. The HSBC started sending agents to my home, every month they added lot of money to the fraudulent transaction amount and started sending me liability letters, reported my name to CIBIL so that I won't get any loan in future and started telephoning every day to compel me to pay the money. Though the harassment was difficult to stand for me and my family, and I lost my dignity in society as a good government officer, my close friends, family, other similar victims (strange enough- there are two more people in the same area had similar fraudulent transactions on their credit cards at the same period) and relatives and the good officer who was investigating the case gave courage to with stand the trouble.
Mean while, I could contact the two of the payment gateways (Cleartrip Travel Service and Bill desk) through e-mail and they responded. They gave all the transactions details and I handed over to the Police.
But the twist in this story is really surprising and should be lesson to those who are using HSBC credit cards – two days back, when HSBC collection agents telephoned me, they put forward a strange condition – I need to pay only 20,000/- and they can settle the case where as my outstanding with financial charges for the disputed amount is more than 65,000/- They wanted this in cash too. Though I agreed as this could end my misery, I got suspicious and in an instinct decided to check with the good officer who is investigating the case. He revealed the fact that CLEAR TRIP TRAVEL HAD ALREADY REFUNDED THE AMOUNT TO HSBC IN FEB 2010 AFTER HSBC CHARGE BACK REPORTED THIS AS A FRAUDULENT TRANSACTION. When contacted this company said they already have collected the money who did the fraud from airport as they detected this. (ie. Before even the first statement after the fraud was generated) ITSELF, which should have been credited to my account. But HSBC NEVER REVEALED THIS FACT EVEN IN THE REPLY TO MY DISPUTE, neither to Banking Ombudsman but harassed me unnecessary for last 6 months. It is unbelievable that a bank like this having such a reputation abroad behaves so cheap in India. THE BANK WAS TRYING TO CHEAT ME.
I am in the process of filing a complaint in Consumer Court. I am not planning to pardon them for the damage caused to my life. Your comments may help me in my journey against such agencies.