EMI moratorium fraud: Banks asking customers to be alert, not to share OTP with imposters

In a bid to warn customers against fraudsters who may attempt to exploit the EMI moratorium scheme, leading banks are reaching out to their customers to caution them against ‘EMI moratorium frauds’ and strongly advising them not to share sensitive information like OTP and PIN with imposters.

Over the past few days, Axis Bank, State Bank of India and other banks have sent out SMSs and e-mails to their customers informing them about new modus operandi being adopted by fraudsters and cyber criminals, to gain access to banking details.

Asking customers to protect their financial details, Axis Bank said in an e-mail to customers said fraudsters have started a new modus operandi to gain access to banking details.

Imposters may contact you to help postpone your EMI payments and request you to share OTP, CVV, password or PIN related to your banking accounts, it said.