[Resolved]  Max Life Insurance — premium taken from the credit card by remote swipe without any authentication / standing instruction

Address:	Mumbai City, Maharashtra
Website:	www.maxlifeinsurance.com

I have taken a max life insurance policy from max new york in 2008 for which i was paying a premium of rs. 4000+taxes twice every year using my credit card. This month i decided to stop the policy and not to pay the premium. The due date was on 22nd nov, at 5:51 pm, i received a message on my phone that the premium amount has been debited from my credit card. When i enquired from my bank, they informed that the card was been swiped physically which was not possible as the card was with me and i was in my office.

I realised that there are some rbi approved swiped machines on which the card can be swiped remotely if the vendor has the credit card number and expiry date. Though this facility has been ceased by rbi few months back due to some fraud happened. Also its a fraud if the payment is been swiped without any written approval from the customer and their photo ids along with the authentication

I would like to take a serious action against this kind of forgery committed by such reputed company and request to publish this news so that all the consumers gets more aware by such kind of frauds