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Protect Your Cards From Cloning And Fraud With These Essential RBI Guidelines
M
Moneycontrol•07-10-2026, 12:04
Protect Your Cards From Cloning And Fraud With These Essential RBI Guidelines
- •Fraudsters use skimmers, hidden cameras, and fake keypads at ATMs to capture card details and PINs to create duplicate cards.
- •Cloning can happen even while you physically hold your original card, making active transaction alerts and mobile number registration vital.
- •Inspect ATM slots and keypads for looseness or bulkiness before use, and always shield the keypad when entering your PIN.
- •Never share your PIN, CVV, OTP, or card details with anyone, even if the caller sounds convincing or creates urgency.
- •Report unauthorized transactions or suspicious activity immediately to qualify for zero liability guidelines under RBI rules.
Key Questions Answered
Fraudsters use skimming devices on card slots to capture information from magnetic stripes, alongside hidden cameras or fake keypads to capture the PIN and create duplicate cards or make fraudulent withdrawals.
RBI guidelines state that some third-party frauds reported within 3 working days qualify for zero liability, while customers bear losses resulting from payment details sharing or negligence.
The RBI's Integrated Ombudsman Scheme, 2026, came into effect on July 1, 2026, providing a cost-free mechanism for eligible complaints against covered regulated entities after customers first approach them.
