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Lost My Money To Fraudulent Transaction: What Shall I Do Now?

Money vanishing like a magic from the account is not a rare case in present period. Lots of people are witnessing a huge deduction of money from their accounts without any knowledge or notification. Read what this South Delhi 61-year-old elderly woman did when she discovered money has been withdrawn from her account using a false cheque. Also, know step by step the procedure to handle such a situation.

A 61 year old woman from South Delhi has been conned of a big amount like INR 50 lakh through eight dubious cheque transactions from her bank account at Neb Serai. The woman sold her parent’s house and kept the money worth INR 2.5 crore in bank, and withdrew it whenever she needed.

She discovered the incident when on April 7th she went to withdraw some cash but she was told that there is no enough money in her account. She got shocked as there was suppose to be 60 lakh in her account after her last transaction. When she approached the bank manager regarding the matter, it was disclosed that the money has been withdrawn using a cheque and the manager also informed her the series number. Surprisingly, the cheque of the specified series number was with her. Thus, it was a clear case of fraud. She immediately lodged an FIR with the local police station, and the police started the investigation immediately. The police seeking a clarification from the bank and suspecting that there has been any insider involved in it.

This kind of fraud is everywhere in present period. More the transactions are getting technology friendly, more such cases of vanishing money from account are coming up. What to do, if someone’s hard earned money gets vanished from account without any knowledge regarding that -

  • First of all, take some safety measures like DO NOT share your personal informations regarding your finance and bank account to anyone over a call, sms, or email. Banks never ask the details on phone or email.
  • If you discover that there has been a deduction from your account of which you have no knowledge or clue, immediately inform the bank and lodge a FIR, your bank account shall be frozen so that no more transactions can be made. In case you lose your debit/credit card, do the same.
  • After that all the informations regarding the transactions will be considered, like from where and how that transaction has been made, and the Police shall take appropriate actions to seek more informations through their investigation.
  • If the transaction is made through technology or online, the cyber crime cell will be referred by the police, and they shall continue with their investigation.
  • The offenders on being caught and declared guilty by court gets punished for - 3 years of imprisonment with fine for fraudulently using electronic signature, password or any other unique identification feature of any other person (Sec. 66C of IT Act); 3 years of imprisonment with fine for cheating by any technology like phone or computer by personating (Sec. 66D of IT Act); or 7 years of imprisonment with fine for cheating and dishonestly inducing delivery of property (Sec. 420 of IPC)

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Reviewed by:
Rashmita Das
Published on 18-Apr-18

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