Case Law Analysis
|Uttarakhand High Court
OTP & CVV Validation Shifts Liability to Consumer | Bank Not Liable for Unauthorised Credit Card Transactions : Uttarakhand SCDRC
Uttarakhand State Consumer Disputes Redressal Commission rules that banks are not liable for fraudulent credit card transactions if OTP and CVV were validated, even if the consumer did not authorize the payment. The ruling underscores that consumers must report unauthorized transactions within three days to avoid liability, shifting the burden of proof to the cardholder.