The Reserve Bank of India (RBI) continues to caution investors about fraudulent activities surrounding KYC updation. Amidst recent incidents, the RBI emphasizes the need for vigilance to prevent losses and safeguard against malicious practices.
How Scammers Operate
- Unsolicited Communications: Customers often receive unsolicited phone calls, SMS, or emails, tricking them into divulging personal information, including login details.
- Unauthorized App Installations: Fraudsters prompt customers to install unauthorized or unverified apps through links shared in messages, posing further risks.
- Urgency and Threats: Fraudulent callers create a sense of urgency, threatening to block or freeze accounts if customers fail to comply with their demands.
- Unauthorized Account Access: Upon obtaining essential personal or login details, fraudsters gain unauthorized access to accounts, engaging in fraudulent activities.
In cases of financial cyber fraud, it’s imperative to lodge a complaint immediately on the National Cyber Crime Reporting Portal (www.cybercrime.gov.in) or through the cybercrime helpline (1930).
What You Can Do
- Report Immediately: If targeted, file a complaint on the National Cyber Crime Reporting Portal (www.cybercrime.gov.in) or call the helpline (1930).
- Verify Directly: Contact your bank directly for confirmation, using contact details from their official website. Never rely on information provided in the suspicious communication.
- Guard Your Information: Never share account details, passwords, OTPs, or KYC documents via phone, text, or email. The RBI doesn’t conduct KYC updates this way.
- Beware of Links: Don’t click on suspicious links sent through messages or emails. They could install malware or redirect you to phishing websites.
- Stay Informed: Regularly check your bank’s website and official channels for genuine KYC update information and warnings about scams.
By following these guidelines and staying vigilant, you can significantly reduce your risk of falling victim to KYC update scams and safeguard your financial well-being. Remember, the RBI prioritizes your safety and will never conduct KYC updates through unsolicited communication. If you’re unsure, always contact your bank directly through their official channels.
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