[Resolved]  Kotak Mahindra Bank Credit Card — Fraudulent Transactions on the Card

There were some FRAUDULENT ONLINE TRANSACTIONS on my Kotak Mahindra Bank credit card on November 10, 2008. 6 fraudulent online transactions were conducted on my Kotak Bank credit card number 4166-****-****-5717. The details of the fraudulent transactions are given below:
10/11/2008 VT083160049000150000101 VISABILLPAY-REL ENERGY MUM IN INR 2000.00 (Dr)
10/11/2008 VT083160049000150000100 VISABILLPAY-REL ENERGY MUM IN INR 7200.00 (Dr)
10/11/2008 VT083160049000150000105 Ezeego One Travels and MUM IN INR 18525.00 (Dr)
10/11/2008 VT083160049000150000104 Ezeego One Travels and MUM IN INR 4781.00 (Dr)
10/11/2008 VT083160049000150000103 Ezeego One Travels and MUM IN INR 5150.00 (Dr)
10/11/2008 VT083160049000150000102 Ezeego One Travels and MUM IN INR 9212.00 (Dr)

I got a call from Kotak's center executive for confirmation on a transaction on the same day, ie., November 10, 2008 to confirm the first of the 6 transactions (VT083160049000150000101 for Rs.2,000). On the same day, I had sent an email (dated November 10, 2008) to a member of the Credit Cards Team (sameer.[protected]@kotak.com) stating that the transactions were not conducted by me and requesting them to block my card.
On checking the account the next day (on November 10, 2008), I noticed negative balance (for both credit limit as well as cash limit) in the online statements. I state that this could not have happened unless Kotak Bank's system allowed the fraudster to conduct transaction well over my credit limit. I also state that the fraudulent transactions did not appear on your system on November 10, 2008).
Subsequently on November 11, 2008, I noticed two entries in my online statement pertaining to the over limit charges as listed below:
11/11/2008 19999999981111999960950 OVERLIMIT FEE INR 500.00 (Dr)
11/11/2008 19999999981111999960950 SERVICE TAX INR 61.80 (Dr)

Later, Mr. Sameer Adarkar, the member of the credit card team to whom the email dated November 10, 2008 was addressed, had assured me that as these were online transactions and were reported on the same day, the Bank will successfully raise the charge back. NOBODY advised me to file any complaint with RBI or with police on the said matter.
On the same day i.e., November 11, 2008, your Bank has reversed 2 of the 6 fraudulent transactions as listed below:
11/11/2008 VT083180046000090000294 VISABILLPAY-REL ENERGY MUM IN INR 7200.00 (Cr)
11/11/2008 VT083180046000090000293 VISABILLPAY-REL ENERGY MUM IN INR 2000.00 (Cr)

Post a continuous follow up on emails and phone, I was instructed by VP-Marketing, Mr. Manish Agarwal, through his email dated December 1, 2008, to re-raise the complaint through the call center. Until then, I state that I was not told by any official of your bank that there would be any need to report the complaint to the call centre. I also fail to understand the need to re-raise the complaint again after 20 days of it first being reported to the Bank.

Nevertheless, as advised by Mr. Manish Agarwal, I re-raised the complaint at the Kotak Mahindra Bank Call Center and was given the SR No.[protected] on December 1, 2008. Subsequently a letter was also submitted by me to the Bank.

On calling the call center several times post re-raising the complaint I was given the response that investigation is on and it will take 45 days for the matter to resolve. Incidentally, according to the Bank, the 45 days time limit was to start from December 22, 2008. Again I fail to understand this as the complaint, according to my mail to Mr. Sameer Adarkar, was lodged on November 10, 2008 and subsequently re-raised on December 1, 2008 as advised by Mr. Manish Agarwal.
I state that the Bank's Recovery Agents have been continuously harassing me and mentally traumatizing me for the recovery of the disputed amount.
Further I state that the Bank has WRONGFULLY frozen my savings bank account ([protected]), and recovered a sum of over Rs. 14,000. This is in complete disregard to the terms and conditions of opening the savings bank account as well as the terms and conditions of the credit card. I confirm that I have not given any kind of express or implied instruction for recovery of my credit card dues from the savings account either to the credit cards team or to the banking team during the opening of the savings account or during applying for the credit card or at any other time.
I state that I have now stopped using your bank’s credit card pending successful resolution of the dispute.
Further I state that as the first two fraudulent transactions was done to pay Reliance Energy bills; the identity of the fraudster is easy for the Bank to track. I fail to understand why the fraudster was not apprehended by the Bank for conducting a fraudulent transaction on a card issued by the Bank. Instead the Bank has kept harassing me for the transactions not performed by me. It can also be inferred from the pattern that the same person would have used the card to book the tickets on Ezeego. As I understand any tickets booked on a Card Not Present environment through online means needs the card to be produced at the booking counter. I understand that this basic rule was flouted by the Bank’s merchant which allowed a person with a name different from the name printed on the credit card to travel.

Requesting the immediate closure of the matter.