Customers Must Report Unauthorised Transactions Immediately, Suggests SBI

Cybercrime and digital fraud cases have been rising in the country recently. From phishing and ransomware attacks to identity theft, there are multiple ways a cybercriminal can prey on vulnerable internet users.  Hence, it is crucial to safeguard yourself against such cyber threats, especially while using digital payment platforms and online banking services. The State Bank of India (SBI) recently suggested its customers immediately report any unauthorised transaction in their accounts to check the rising cybercrimes.  The country's largest lender emphasised that customers must immediately report unauthorised transactions to be addressed promptly. "Unauthorised transactions, if any, should be immediately informed to toll-free number 18001-2-3-4 so that proper action can be taken on time," SBI said in a recent press release. Last month, SBI Chairman Dinesh Kumar Khara stressed that customers must be informed so that they can report any unauthorised transactions to the bank.  The Chairman advised SBI customers to beware of cyber fraud and said that customer service must be prioritised to deal with such issues, PTI reported. According to SBI, besides dialling the toll-free number, customers can lodge their grievances related to Internet Banking, ATM, mobile banking and BHIM SBI Pay services through the bank's website.  The bank stated that in case of any financial fraud involving the SBI account, the customer must notify the bank at the earliest as the longer the time taken to inform the bank, the higher the risk of financial loss to the customer. Once the bank receives the complaint of an unauthorised transaction, it will take immediate and adequate steps to prevent such fraudulent transactions.  The bank also ensures that the particular channel is blocked once the complaint is received through which the transaction took place. SBI also sends an SMS or email to the customer mentioning the registered complaint number and other details. A complaint received from a customer is resolved within 90 days.