ATM card hacked and used by someone else?

Question

My ATM card has been hacked and misused by someone else on 20 mar 2016. Amount of Rs 23000 has been withdrawn in total by 3 transactions (10000+10000+3000). Here I want to throw light on security provided by your bank. How can this be happen? Is our money not even secured in bank. What kind of security bank provide to their customer. I really want you to take strict action against the bank as I want my hard earned money back at any cost..

Answer 1

Dear Gagan

At the outset, let me clarify that this site is designed and managed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

Unilaterally accusing the bank is not in order.  There are thousands of ATMs across the country and lakhs of customers make use of the same.  Trust, you must have complained to the bank in writing regarding the withdrawals, which according to you were due to hacking of ATM card.  If not done already, you should also be filing an FIR with the police, since you suspect fraud.  The bank would conduct an internal investigation based on the ATM, switch, journal reports, CCTV footage etc and revert to you on their findings.  The bank should also cooperate with the Police in their investigations.  Post the revert from bank and the findings of Police, you can decide on further course of action, duly ensuring that at no point in time, you have compromised with your confidential PIN, because NO money can be withdrawn from an ATM without the combination of ATM card and PIN, which is known only to you.

RAJA