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Recovery agents involved in fraud




This scenario is one of the biggest fears that people have when dealing with credit cards, and handing this information off to other parties. You hand this off to a person purporting to come from a bank, and then find that charges are being piled on your credit card, and then have to run around in trying to clear yourself of these extra charges. It can get real frustrating and annoying for people to have to deal with such kind of problems. The normal tendency is to blame the bank for keeping such people on their rolls, for having such a process where misuse can happen, and for then being insensitive to the problems they are facing. Read more about the incident:

The manager of a Delhi-based private firm was arrested along with two accomplices on Friday on charges of allegedly making purchases using the credit card of an ICICI bank customer.
“We registered a case on the complaint of Atri and arrested Goyal from the Rohini branch of ICICI Bank. The other two were arrested at the instance of Goyal. During interrogation it was revealed that Goyal is the manager of i-process, an outsourcing private company of ICICI Bank, dealing with credit card users whereas accused Ashish Katyan and Dev Aggarwal were working as recovery agents in another collection agency,” said DCP (outer) Atul Katiyar. “The accused used to contact the customers and introduce themselves using a fake name. Then they used to send Ashish Katyan for collecting the card from consumers. Instead of blocking the cards, the three used to go shopping.


The basis for the information that these thieves come up with is information that the bank has revealed to them, so the bank should be the one to blame for this. In the process of reducing their costs by outsourcing this service, they have let such a thing happen, and hence need to be penalized. If this was a country with stronger implementation of privacy and data theft laws, the bank would be in serious trouble.




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