One Sandeep Srinivasa posted on ‘X’ that one of his cards was used for a fraudulent transaction at Uber Eats Canada. Although a card was reissued, a fraudulent transaction was issued on the new card.
He also wrote that “Axis Bank refusing to investigate why the new card got a fraudulent transaction was insanely careless. Like at the very least, check that the new card is not transmitted through Automated Biller.”
Another user Aadil Bandukwala says that his card was used too without his permission and without OTP for two transactions at Air France.
Some were suggesting the users to turn off international transactions since all these fraudulent transactions that were reported were international. One Abhishek Yadav wrote that “If you have an Axis Bank card, then it is better to turn off your international transactions.”
Axis Bank, meanwhile, released a statement via Axis Bank Support’s ‘X’ handle clarifying that there has been no breach of any systems although some unauthorised transactions took place from certain merchants which have been blocked.
ALSO READ: Devaluations are normal. so why is it hurting Axis credit card holders
The statement further reads, “Those amounts are small and are fully recoverable. Those customers who would like to reconfirm any transaction or any aspect on their card can contact us directly. We would like to reassure you that we continue to take all steps to ensure robust controls through our advanced transaction monitoring system and transaction reviews.”
Scrutiny by RBI
Meanwhile, in another news, the Reserve Bank of India (RBI) has intensified its scrutiny of the credit card industry. Recently, it asked Federal Bank and South Indian Bank to stop isssuing new co-branded credit cards, since it was concerned about the accesss to customer data by its fintech partner OneCard.RBI
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Published: 28 Mar 2024, 04:27 PM IST