What Is The Procedure Against Fraudulent Transactions Done In Credit Card?
What is the procedure against fraudulent transactions done in credit card?
Free Legal Advice - banking financial
Posted by: Deepak Mishra
Posted on: 2018-09-19
A customer will have zero liability in respect of a fraudulent transaction if there is contributory fraud or negligence on the part of the bank, irrespective of whether or not the transaction is reported by the customer. Even in the case of a third party breach, where the deficiency lies neither with the bank nor with the customer and the customer informs the bank within 3 working days of receiving communication from the bank regarding the unauthorized transaction, the customer will not be liable.
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