Standard Chartered Bank — regarding the transaction with agoda

Address:

New Delhi, Delhi, 110048

This is in reference to my last transaction regarding flight booking at agoda. My basic question to rbi - we are living in an era of online banking and the main focus nowadays is authenticity of the transaction, i. E. Otp generation in order to confirm that the transaction isn’t fraudulent, then how can the life cycle of a financial transaction be completed without an otp being generated? In this era of digital banking how is rbi/government entities (Ministry of it) allowing apps/websites to run transactions without having 3d security concept in place, i. E. Allowing transactions to flow free once the card details are mentioned. This means that for example one loses their debit/credit card, so till the time the person informs the bank regarding the loss, financial transactions can be carried out for any amount at such websites, since there is no cyber security in place for it. These kind of websites should be blocked/ shouldn’t be operational until they ply with the norms of rbi/government of india. I believe this is the basic duty of ministry of it, to restrict the usage of these websites/apps which don’t meet the minimum requirements of cyber security.

Last night post this transaction, i had been trying to get in touch with standard chartered team - i had to wait on the customer care number for more than 30 mins, but couldn’t get through any customer agent. Later after approximately an hour natarajan & somashekhar called from the bank and i asked the same question to them however they didn’t have a convincing answer to my query and are just trying to get off the basic duty of the bank stating that we can’t cancel or revert this transaction right away and you need to get in touch with the merchant. Another basic question – will a merchant revert any transaction which has been credited to their account. The answer is no and they in turn are wanting the bank to help me with this transaction.

I am highly disappointed with the poor customer service from standard chartered because of which i am raising this complaint with rbi to look into my plea of returning the money to my account asap and ensuring that proper cyber security needs to be in place for all the apps and websites that are running for the citizens of india, such that they aren’t cheated/ face any fraud like i am facing.