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Deal With Unauthorized Transactions (Expert Tips)

As digital payments growing, online frauds have come up as a growing scam, many scrambling on how to recover lost funds and secure their accounts. But, experts advise to stay calm and act swiftly when dealing with unauthorized transactions.

“Main tactic fraudsters use is social engineering – manipulating human psychology to create a false sense of urgency or legitimacy,” said Vishal Salvi, CEO of Quick Heal Technologies Ltd. He explains how scammers exploit the basic human instincts of trust and urgency.

In UPI frauds, they may pose as a known contact asking to transfer money. With card scams, they often pretend to be bank officials claiming an urgent issue with your account. Similarly, ATM scams involve installing hidden skimming devices and cameras to copy card and PIN details.

Caution Is Important – Verify Before Acting

Experts emphasize exercising caution in such situations. Bank officials never ask for sensitive information like PINs or OTPs. So pause and verify claims before acting, no matter how convincing the fraudsters sound. Going by your instincts also helps – if something seems suspicious, it likely is.

Act Fast But Follow Due Process

If you already lost money to a scam, every minute counts. So inform your bank instantly to freeze affected accounts and cards, advises Dhiren V Dedhia, Head of Enterprise Solutions at CrossFraud.

Timing of your complaint impacts liability. Reporting fraud within 3 days means you may not be held accountable. After notifying the bank, file a report on the National Cybercrime Portal or dial 1930 to create an official record for investigation.

For unresolved UPI frauds, escalate to the National Payments Corporation of India (NPCI) through their portal. If issues persist over 30 days, approach the Banking Ombudsman.

“Maintaining detailed communication records with authorities is critical to protecting your rights,” stresses Dedhia.

NPCI’s Dispute Resolution System

To streamline such disputes, NPCI introduced an automated resolution framework called UDIR – Unified Dispute and Issue Resolution.

“UDIR standardizes the process through a single-channel, designed to swiftly solve UPI ecosystem issues. This highlights NPCI’s commitment to enhancing grievance redressal,” said Bhargav Errangi, Founder of POP.

Stay Vigilant, Turn On Alerts

Experts underline adopting safer practices to avoid further loss. Monitor accounts regularly for unauthorized activity. Use two-factor authentication and transaction alerts as additional shields, advises Cristina Costache, Global Data Protection Officer at Noventiq.


Online fraud can cause much stress. But following expert guidance on acting swiftly and safely can help recover your finances. Being cautious, verifying claims, reporting promptly, escalating systematically, and staying alert these measured steps will go a long way to secure yourself.