Axis Bank Customers Report Unauthorized Transactions on Social Media

Axis Bank Customers Report Unauthorized Transactions on Social Media

Axis Bank Customers Report Unauthorized Transactions on Social Media

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Several Axis Bank customers have taken to social media to express their concerns about fraudulent transactions on their credit cards.

One customer, Sandeep Srinivasa, shared on ‘X’ platform that his card was used for a fraudulent transaction on Uber Eats Canada. Even after getting a new card, another fraudulent transaction occurred.

Another customer, Aadil Bandukwala, mentioned that his card was charged for two transactions at Air France without his permission or the need for an OTP.

Some users suggested turning off international transactions as most of the reported fraudulent activities were international. Abhishek Yadav advised Axis Bank cardholders to disable international transactions for added security.

Axis Bank responded to these claims through their support handle ‘X’, stating that there hasn’t been any breach in their systems. They acknowledged unauthorized transactions from certain merchants and assured customers that those merchants have been blocked.

In their statement, Axis Bank mentioned that the amounts involved in these unauthorized transactions are small and fully recoverable. They encouraged customers to reach out directly if they needed clarification on any transactions.

Axis Bank emphasized their commitment to maintaining robust controls through advanced transaction monitoring systems and reviews.

Meanwhile, the Reserve Bank of India (RBI) has increased its scrutiny of the credit card industry. Recently, it directed Federal Bank and South Indian Bank to halt issuing new co-branded credit cards due to concerns about customer data access by their fintech partner OneCard.

Overall, Axis Bank customers are urged to remain vigilant about their transactions and take necessary precautions to safeguard against fraudulent activities.

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