These are some points which you must remember about liability in the case of lost credit cards and misused.
1- There is always an insurance against credit card and the insurance company will pay the compensation in the case of card misuse.
2- For the claim to possibly be valid and made good from the card-issuing bank, the holder need to ensure that all procedures to determine genuine loss will be in place.
3- The card holder must try to notify the bank as soon as possible to minimize the loss as bank can block the card usage in time.
4- The cardholder needs to file a FIR with a local police station for the recovery against the misuse of credit card.
5- Insurance company is independent to recover the amount with the guilty.