How to Report Financial Fraud in India

Tell your bank within three working days and your liability for an unauthorised electronic transaction is zero. That is not a courtesy. It is set out in an RBI circular from 6 July 2017 and it is the single most valuable thing on this page.

Call 1930 and file at cybercrime.gov.in first, because that is what can freeze the money in transit. Then put the complaint to your bank in writing, and date it.

What do you do, in what order, and by when?

Step	Where	Deadline	Why it matters
Report the fraud	Call 1930, then file at cybercrime.gov.in	Immediately	The earliest chance to freeze funds before they move on
Notify your bank in writing	Bank’s registered channel; keep the acknowledgement	Within 3 working days	Zero liability for the customer
Late notification	Same	4 to 7 working days	Liability capped at ₹5,000, ₹10,000 or ₹25,000 by account type
Very late notification	Same	Beyond 7 working days	The bank’s own board-approved policy decides
Bank credits the amount	Your account, value-dated to the transaction	Within 10 working days of your notice	This is a shadow reversal while the case is investigated
Escalate to the RBI Ombudsman	cms.rbi.org.in, or 14448	After 30 days with no satisfactory reply	Free of charge; no need to identify which scheme applies

What exactly does zero liability cover?

Two situations. The first is where the bank was at fault, through fraud, negligence or a deficiency on its side. Your liability is zero whether or not you reported it quickly.

The second is a third-party breach where neither you nor the bank was at fault. Here the three-working-day clock decides. Report within three working days and you owe nothing.

Report between four and seven working days and your liability is capped. The cap is ₹5,000 on a basic savings account. It is ₹10,000 on a normal savings account or an individual current account. It is ₹25,000 on other current accounts, and on credit cards with a large limit.

Why does the bank have to credit you within ten working days?

Because the RBI requires it, and the credit is value-dated to the date of the unauthorised transaction. You get the money back while the investigation runs, not after it ends.

This is the clause banks are least likely to volunteer. Quote it. Ask for the shadow reversal in writing, referencing the circular of 6 July 2017.

If it does not arrive, that is your escalation trigger. Do not wait for the outcome of the investigation.

Where do you complain if the bank does not fix it?

The RBI Ombudsman, after 30 days. You can file online at cms.rbi.org.in, email CRPC@rbi.org.in, or call the contact centre on 14448. There is no fee.

You no longer have to work out which ombudsman scheme covers your complaint. The Integrated Ombudsman Scheme of 2021 removed that step.

Different regulators handle different products. Securities complaints go to SEBI, insurance complaints to the IRDAI grievance route and the Insurance Ombudsman. RBI’s Sachet portal is the place to report an entity collecting deposits without authorisation.

What should you do in the first hour?

Freeze the channel, not just the transaction. Block the card, disable UPI on the account, and change the net banking password from a different device.

Write down the timeline immediately: time of the call, the number that called, what you clicked, the exact time of each debit. This record is what the bank and the police will work from.

Never share an OTP to reverse a fraud. That is the second wave of the same scam. While you are at it, check your statement for the routine bank charges you may have missed. Our pages on UPI fraud and the digital arrest scam cover the specific patterns.

What if the fraud hits your credit record?

Fraudulent loans and cards taken in your name show up on your bureau report. Dispute them directly with the bureau as well as with the lender.

Get the police complaint number into the dispute. A bureau dispute backed by a first information report moves far faster than one without. Our guide to a credit report dispute sets out the process.

Check your report afterwards, twice. Entries sometimes reappear when a lender refreshes stale data.

Common questions

How do I report an online banking fraud in India?

Call the national cyber crime helpline on 1930 straight away, then register the complaint at cybercrime.gov.in. Separately, notify your bank in writing and keep the acknowledgement. The bank notification is what protects your money under the RBI rules. The 1930 call is what can stop the money moving.

Will the bank refund money lost to fraud?

Report an unauthorised electronic transaction within three working days and your liability is zero. The bank must then credit the amount within ten working days, value-dated to the transaction. If you were negligent, say by sharing an OTP, you bear the loss until you report it. After you report, further loss is on the bank.

What is the time limit to report an unauthorised transaction?

Three working days for zero liability. Between four and seven working days your liability is capped at ₹5,000, ₹10,000 or ₹25,000 depending on the account type. Beyond seven working days, the bank’s own board-approved policy applies, which is usually much less favourable.

How long does a bank have to resolve a fraud complaint?

The RBI requires banks to close such complaints within 90 days. But you do not have to wait that long. If your complaint is unresolved after 30 days, go to the RBI Ombudsman. It is free, and you file at cms.rbi.org.in.

Where do I complain about a company taking deposits illegally?

The RBI runs Sachet, a portal for reporting entities collecting deposits without authorisation. Use it alongside a police complaint. If the entity claims to be an investment scheme, also raise it with SEBI. If it sold you an insurance policy, use the IRDAI grievance route.