Credit Frauds in India

ICICI Bank topped the list of Credit Card Frauds with a total of 8,280 complaints involving Rs 11 crore [USD 2 mn] between April and Dec of 2008.

HSBC came next with total complaints of 2,484 cases involving Rs 4,90 crore while American Express Cards lost Rs 6.04 crore on 703 complaints. Citibank, incurred a loss of Rs 4.73 crore, Deutsche Bank loss of Rs 2.09 crore and Standard Chartered Bank Rs 2.39 crore.

No cases were reported by IDBI Bank, Canara Bank and Indian Overseas Bank related to credit card frauds. That’s surprising!!!

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