New Delhi, June 17 -- With the rise of digital transactions credit card frauds have also become a pressing concern for millions. That is why understanding the legal consequences and safeguarding your credit card is crucial for every cardholder.

Here's what you should definitely know about the punishment for credit card fraud, key legal provisions, associated complications and recent developments impacting the usage of credit cards in the country.

Credit card frauds in the country are not governed by a single, standalone law or legal provision. Instead, perpetrators can be tried and prosecuted under multiple statutes including the Indian Penal Code (IPC), 1860 and the Information Technology (IT) Act, 2000. The most important legal provis...