Dubai resident alleges Dh27,700 credit card fraud, bank says OTP was compromised

Reader claims unauthorized transaction without OTP, blames bank

Last updated: August 22, 2025 | 12:14

Manuel Almario, Senior News Editor

2 MIN READ

Reader raises concern over high-value transaction processed without OTP, blames bank

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Dubai: Gourav Mukherjee, a Dubai resident, has reached out to Gulf News seeking assistance in highlighting an alleged case of financial fraud involving his Mashreq Bank credit card, amounting to Dh27,700.

According to Mukherjee, the incident occurred on July 24, 2024, while he was at work in Business Bay. At 1:12pm, he received an SMS alerting him of a transaction of Dh27,700 charged to his credit card. Recognizing this as unauthorized, he immediately contacted the bank’s call center at 1:14pm to report the fraudulent activity and requested that both the transaction and the card be blocked.

“While the bank promptly blocked my card, the transaction still went through, and the amount was debited from my account,” he said.

Mukherjee emphasized that he did not receive any One Time Password (OTP) or authentication request for the transaction. “I have been using this card for over two years, and my monthly spending never exceeded Dh9,000. The absence of OTP or any verification for such a high-value transaction raises serious concerns about the bank’s security protocols.”

Also Read: Buy Now Pay Later (BNPL) fraud causes Dh20,000 loss for UAE resident

Following the bank's instructions, he submitted a dispute form on the same day via email. Despite his efforts, Mukherjee claims that the bank’s responses have been dismissive. "The bank now knows who the merchant is and where the goods were delivered, yet I have received no resolution,” he added.

I feel helpless and distressed. This loss has severely impacted my family back in India. I am just a common man, and this situation has affected my dignity and mental well-being.”

Mukherjee appealed to Gulf News to help bring the matter to public attention. “Your platform has the influence to ensure that justice is served and that responsible parties are held accountable. I urge you to highlight this case to protect others from similar experiences.”

Mashreq Bank responds

Gracy Abraham, Assistant Vice President and Head of the Customer Care Unit at Mashreq, provided the following statement in response:

“It appears that the customer was unfortunately the victim of an OTP (One Time Password) compromise. At Mashreq, protecting our customers from fraud is a top priority, and information on how to stay safe is available and continuously updated on our website, social media channels, and through SMS and email alerts. Based on our investigation, the transaction in question was securely processed through a digital wallet, and in line with applicable guidelines, the dispute was therefore declined. The bank has advised the customer accordingly.”

Also Read: Dubai Police arrest two for using victims’ bank accounts in online fraud scheme

Manuel AlmarioSenior News Editor

Manuel has been with Gulf News for 24 years, currently serving as a Senior News Editor and a vital member of the team. From managing social media platforms and crafting viral content to shooting and editing videos on various topics such as weather, gold prices, and traffic updates, Manuel ensures news is not just timely but engaging. He also moderates reader comments and keeps the digital space respectful and impactful. Formerly the Community Editor for the Readers section, Manuel helped residents resolve issues with banks, telecom providers, utilities, and government agencies—giving people a voice and driving accountability. “I’m proud that, with the cooperation of companies, I was able to help people get the answers they needed,” he says. Beyond the newsroom, Manuel is driven by a passion for human interest stories—amplifying voices that often go unheard. “From rags-to-riches journeys to the quiet resilience of people with special needs, I believe these stories restore hope in humanity,” he added. “In every story I tell,” Manuel says, “my goal is simple: to inspire hearts, inform minds, and make a real difference in people’s lives. Whether it’s a viral video, a quiet act of resilience, or a voice that needs to be heard, I believe every story has the power to connect us—and sometimes, even change us.” Manuel’s impact goes far beyond the newsroom—he’s been honored as one of the 300 most influential Filipinos in the Gulf Legacy Edition 2020 by Illustrado. His dedication to telling powerful stories, along with his influence in community, culture, and human interest, has earned him a well-deserved place on this prestigious list.