RBI expresses concern over fake calls and messages in the name of banks, shared these safety tips

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New Delhi, February 22, 2021: Every day, fraudulent cases arise, of fake calls or messages made under the disguise of a bank. The frauds call or message the bank’s name and ask for confidential information related to the bank account and commit fraud. The Reserve Bank of India (RBI) periodically shares 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, individuals commit fraud through mobile numbers similar to toll-free numbers of banks or financial institutions. The RBI had said that fraudsters keep mobile numbers like toll-free 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 appealed to the masses 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 details and do not share any such information with anyone.


Recently, the RBI issued a warning regarding fraud phone calls coming under the disguise of banks. The central bank had said that the number of phone calls coming from the bank is 1600-123-1234. These fraudsters then take a number for it, just like 600-123-1234, and register it as a bank’s toll-free number on TrueCaller or another service provider. 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. Do not respond to such emails, SMS, WhatsApp messages, or phone calls. Customers must not click on the link received through SMS for ‘verification’ of the card. It is imperative that customers should reach the bank’s contact details from their official website and use secure means to contact them in case of problems.