The Reserve Bank of India (RBI) on Tuesday issued a warning, informing the general public against recent upticks in fraudulent activity. The RBI put out a tweet on September 13 cautioning people against bank fraud related to Know Your Customer (KYC) documents. The apex bank warned people on its tweet and its press release against sharing their personal account-related information with scammers. Apparently, the RBI has been receiving many complaints and reports about customers falling prey to fraud being perpetrated in the name of KYC updation. The top bank said that members of the general public should not share certain personal details such as login information, card details, PIN number or even One-Time Passwords.
The tweet issued by the RBI read: “RBI cautions against frauds in the name of KYC updation.” In the tweet was the link to the full official press release by the RBI.
In the press release, the RBI said, “The usual modus operandi in such cases include receipt of unsolicited communication, such as, calls, SMSs, emails, etc., by customer urging him/her to share certain personal details, account/login details/ card information, PIN, OTP, etc. or install some unauthorised/ unverified application for KYC updation using a link provided in the communication. Such communications are also reported to carry threats of account freeze/ block/closure. Once customer shares information over call/message/unauthorised application, fraudsters get access to customer’s account and defraud him/her.”
