Frauds In The Name Of KYC Increases, Bank Alerts Customers
New Delhi, 18th June 2021: The State Bank of India (SBI) has asked customers to be alert of the increasing cases of online frauds, after several cases of Know Your Customer (KYC) frauds got reported across the country.
On Thursday, SBI issued an alert on Twitter, warning customers of instances where fraudsters have duped people with KYC verification. SBI said that in these cases, fraudsters send a text message pretending to be a representative of the bank or a company to collect customer’s personal information.
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Recently SBI had decided to accept the documents for KYC update through email or post, this was because of the lockdown restrictions amid the second wave of COVID-19 pandemic in the country. The customers report all such online fraud cases at https://www.cybercrime.gov.
Amidst rising cases of KYC frauds, the State Bank of India has shared three security measures for the customers to be vigilant:
- Speculate before clicking on any link.
- The Bank never sends a link to update KYC
- Do not share your mobile number and confidential data with anyone
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