The State Bank of India (SBI) has alerted its customers of the KYC (Know Your Customer) fraud saying that it is very much real and prevalent. On Tuesday, SBI tweeted about the risks of KYC frauds and mentioned that it has proliferated over time. The bank urged its customers to report any such case to the National Cyber Crime Reporting Portal, under the Ministry of Home Affairs. The fraudsters are known to extract sensitive personal data from customers through text messages pretending to be a bank/company representative.
In its tweet, SBI also mentioned a few safety tips to be followed by customers to prevent any KYC fraud from happening. Customers should be careful before clicking on any link that may come along with a message saying that their account will be blocked if they do not click on it. SBI mentioned that they never send any link to their customers to update their KYC information. The bank also warned them to never share their mobile number and other confidential data to anyone.
https://twitter.com/TheOfficialSBI/status/1404792637639569415?s=20
KYC is a crucial step followed by banks to make verify their customers’ identity. Considering the pandemic lockdown and other steps that have prevented any normal social gathering, the Reserve Bank of India (RBI) had asked banks not to impose any punitive restriction against customers if they fail to update their KYC till 31 December 2021.
Amidst the second wave of Covid pandemic, banks have allowed customers to update their KYC through mail or post. However, this method can also be manipulated by fraudsters and SBI has cautioned its customers to immediately report any unauthorised transaction in their bank accounts. SBI said that if their customers notice any unauthorised transaction in their bank account, they must report it immediately to the toll-free customer care numbers – 18004253800, 1800112211, besides reporting to the national cybercrime portal.
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