While UPI and internet banking have revolutionized digital payments, they have also opened doors for sophisticated cyber criminals. To protect users from such financial losses, various insurance schemes and banking policies now allow victims of digital fraud to claim up to ₹25,000. Here’s everything you need to know about the application process and eligibility.

How to Apply for the Claim?

• Report Immediately: The moment you realize you’ve been defrauded, dial the national cybercrime helpline 1930 or log on to www.cybercrime.gov.in. Prompt reporting increases the chances of freezing the stolen funds.
• Contact Your Bank: Notify your bank within 3 days of the incident. Under RBI guidelines, if a customer reports a fraudulent transaction within 3 days, their liability can be zero.
• Check Card Insurance: Many premium debit and credit cards come with complimentary cyber fraud insurance. Contact your bank to see if your account is covered under this protection.

Prevention is Better Than Cure: To avoid falling into these traps, never share your OTP, PIN, or scan QR codes sent by strangers. Always remember, you never need to enter your PIN to receive money. Staying alert and following the standard operating procedures (SOP) for reporting fraud is the only way to ensure you receive your ₹25,000 claim successfully.