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UPI Scam Emptied Your Account? Know When Banks Must Cover Your Loss
M
Moneycontrol•16-10-2026, 19:41
UPI Scam Emptied Your Account? Know When Banks Must Cover Your Loss
- •Report unauthorised transactions to your bank immediately to limit financial liability and request account or UPI blocking.
- •Contact the national cybercrime helpline at 1930 as quickly as possible to potentially intercept transferred funds.
- •Under RBI rules, you have zero liability for third-party breaches if reported within three working days of the bank alert.
- •Sharing your UPI PIN or OTP due to scams may be treated as customer negligence, making recovery much harder.
- •If a bank refuses to refund your money without a valid reason, you can escalate the matter to the RBI Ombudsman.
Key Questions Answered
A bank must cover the entire loss if the fraud occurred due to a bank security failure. Customers also have zero liability in third-party breaches if reported within three working days, or five calendar days under updated norms.
Reporting a third-party breach between four and seven working days limits your liability under RBI rules. Taking more than seven working days means the liability depends on the bank's approved policy.
Call your bank immediately to report unauthorised transactions, ask for a complaint number, and block your account or UPI payments. You should also call the cybercrime helpline on 1930 and keep a record of all payment details and alerts.
