UAE: Unauthorised OTP transactions on credit card totalling Dh40,400 investigated and resolved

I noticed a number of unauthorised transactions on my Mashreq credit card, on April 5, 2022, for an amount totalling USD11,000 (Dh40,400). I did not make these transactions, nor did I share the OTP with anyone.

I blocked the card, immediately, by calling the bank’s call centre. I also visited the branch in Al Qassimia, Sharjah, and met with the customer service department. I informed my bank relationship manager about the incident.

As per the bank's instructions, I immediately filled and submitted an online dispute form for which I received an acknowledgement. The branch staff assured me that the amount would be refunded.

However, on April 15, I received an email from the Dispute Team informing that the amount will not be refunded.

The bank added that as it was an OTP based transaction, they could not do anything and said that I might have shared the OTP with someone.

I had informed them that I had 14 OTPs generated in my mobile after 1am and no message of any transaction done. I noticed the OTPs next morning and took necessary action.

I visited the branch again on April 16, and raised the matter with the branch officials.

I have the following concerns:

First, 14 transactions in USD were done to buy cryptocurrency at 1.44am.

This should have raised a red flag for the bank. I did not receive any calls from the bank. In the past, I have received a call for every large transaction.

Second, although an OTP was generated, I did not receive any SMS or email from the bank saying that the OTP was used for the transactions, as is the case normally.

Third, I repeatedly asked the call centre representative the next day about how many transactions had been done on my credit card - they said it did not reflect on their system yet and would take time.

The bank, on sending emails, has now started reinvestigation. I am still waiting for their response.

I would request Gulf News to help me escalate this issue.

From Dr Disha Vengsarkar

Sharjah

Dr Vengsarkar updates: I would like to thank Gulf News for your support. My issue has been resolved with Mashreq bank.

(Process initiation: April 29. Reader updates: May 12.)