A Dubai resident has alleged financial fraud involving his Mashreq Bank credit card, claiming Dh27,700 was charged without his authorization and without the required One Time Password (OTP).
Gourav Mukherjee said the incident occurred on July 24, 2024, while he was at work in Business Bay. At 1:12 pm, he received an SMS alert notifying him of a transaction for Dh27,700. Recognizing it as fraudulent, he immediately contacted Mashreq’s call center at 1:14 pm to report the case and requested that the card be blocked.
“While the bank promptly blocked my card, the transaction still went through, and the amount was debited,” Mukherjee told Gulf News.
He added that no OTP or authentication was requested, despite the unusually high value of the transaction. “I have been using this card for more than two years and my monthly spending never exceeded Dh9,000. The absence of verification for such a large amount raises serious concerns about security protocols.”
Following the bank’s instructions, Mukherjee submitted a dispute form on the same day. He claims that despite the bank knowing the merchant details and delivery address of the goods, no resolution has been provided.
“This loss has severely impacted my family back in India. I feel helpless and distressed,” he said, appealing for the issue to be made public.
In response, Mashreq Bank said its investigation concluded that the customer was a victim of an OTP compromise. Gracy Abraham, Assistant Vice President and Head of the Customer Care Unit at Mashreq, stated: “At Mashreq, protecting our customers from fraud is a top priority. Based on our investigation, the transaction was securely processed through a digital wallet, and in line with guidelines, the dispute was therefore declined. The bank has advised the customer accordingly.”
The case underscores the growing concerns over digital fraud in the UAE, where residents have reported similar incidents involving high-value transactions processed without apparent authentication.
