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RBI expressed concern over fake calls and messages in the name of banks

In the current era, fraudulent cases are increasing daily through fake calls or messages in the name of the bank. The fraudsters call or message using the bank’s name and ask the person for confidential information related to the bank account and commit fraud. The Reserve Bank of India (RBI) keeps sharing security tips to protect customers from frequent frauds. The RBI had recently issued a warning about new fraud using mobile numbers. According to the notice, fraud is being done from mobile numbers similar to toll-free numbers of banks or financial institutions. The RBI had said that fraudsters keep toll free mobile numbers of financial institutions and save the number on an app like Truecaller along with the name of the institution.

The Reserve Bank of India has again issued a new warning. The RBI has told through its Twitter handle that customers should not share their PIN, OTP and any information related to a bank account. The central bank has said that if a customer’s card is stolen or lost, immediately block the card. Apart from this, customers should also be alert on seeking information related to any kind of KYC detail and do not share any such information with anyone.

Recently, the RBI issued a warning regarding fraud phone calls coming in the name of the bank. The central bank had said that suppose the number of phone calls coming from the bank is 1600-123-1234. These fraudsters then take a number similar to it, like 600-123-1234 and register it as a bank’s toll-free number on a true caller or other service providers. Due to this, people are unable to ascertain whether the call is from a bank / financial institution or that a fraudster has made a call.

RBI said that it is necessary to understand that no financial institution or their representatives send emails, SMS or WhatsApp messages or call on the phone to ask for personal information, passwords or OTPs. Never respond to such emails, SMS, WhatsApp messages or phone calls. Customers should never click on the link received through SMS for ‘verification’ of the card. Customers should always reach the bank’s contact details from their official website and use secure means to contact them in case of problems.