The Reserve Bank of India (RBI) on February 02, 2024, notified against fraud in the name of KYC updation.
In the wake of continuing incidents/ reports of customers falling prey to frauds being perpetrated in the name of KYC updation, RBI once again urges the members of the public to exercise caution and due care to prevent loss and safeguard themselves from such malicious practices.
The modus operandi for such frauds usually involves customers receiving unsolicited communications, including phone calls/SMS/emails, through which they are manipulated into revealing personal information, account/login details, or installing unauthorized or unverified apps through links provided in the messages.
To safeguard themselves, members of the public are encouraged to adopt the following measures: -
Do’s
• In the event of receiving any request for KYC updation, directly contact their bank/ financial institution for confirmation/ assistance.
• Obtain the contact number/ customer care phone number of the bank/ financial institution only through its official website/ sources.
• Inform their bank/ financial institution immediately in case of any cyber fraud incident.
• Enquire with their bank branch to ascertain available modes/ options for updating KYC details.
Don’ts
• Do not share account login credentials, card information, PINs, passwords, OTPs with anyone.
• Do not share KYC documents or copies of KYC documents with unknown or unidentified individuals or organizations.
• Do not share any sensitive data/ information through unverified/unauthorized websites or applications.
• Do not click on suspicious or unverified links received in mobile or email.
[Press Release: 2023-2024/1794]
