RBI alert! Beware of frauds in the name of KYC updation. Check how you may be fooled

The Reserve Bank of India (RBI) today cautioned people against frauds being conducted in the name of KYC updation.

In a statement, the RBI said it has been receiving complaints/reports about customers falling prey to frauds being perpetrated in the name of KYC updation.

Modus Operandi

The central bank said that the usual modus operandi in such cases include receipt of unsolicited communication, such as calls, SMSs, emails, etc., by customer urging him/her to share certain personal details, account/login details/card information, PIN, OTP, etc. or install some unauthorised/unverified application for KYC updation using a link provided in the communication.