DUBAI : Gourav Mukherjee, a resident of Dubai, told Gulf News that he was at work in Business Bay on July 24, 2024, when he received an SMS alerting him to a Dh27,700 transaction on his Mashreq Bank credit card at 1:12pm. Within two minutes, he contacted the bank’s call center to report the unauthorized transaction and requested that both the card and transaction be blocked.
“While the bank promptly blocked my card, the transaction still went through, and the amount was debited from my account,” Mukherjee said. He stressed that no One-Time Password (OTP) or authentication prompt was received for the high-value payment.
Having used the card for two years with average monthly spending under Dh9,000, Mukherjee questioned why the bank’s security system did not flag the transaction. He filed a dispute form the same day but claims the bank’s responses have been dismissive. “The bank knows who the merchant is and where the goods were delivered, yet I have received no resolution,” he added, saying the financial loss has severely impacted his family in India.
In response, Mashreq Bank said its investigation showed the customer had suffered an OTP compromise. Gracy Abraham, Assistant Vice President and Head of Customer Care, said: “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.”
While the bank has closed the dispute, Mukherjee insists he was not provided an OTP and continues to call for accountability.