Reserve Bank of India cautions against frauds in the name of KYC updation

Banking regulator Reserve Bank of India (RBI) on Monday cautioned people not to share account login details, personal information, copies of KYC documents, card information, PIN, password and OTP with unidentified persons or agencies.

“Such details should not be shared through unverified/unauthorised websites or applications. In case they receive any such requests, customers are requested to get in touch with their bank/branch,” said the RBI.

The central bank has been receiving complaints about customers falling prey to frauds being perpetrated in the name of KYC updation.

The usual modus operandi in such cases include receipt of unsolicited communication, like calls, SMSs and emails by customer urging him/her to share certain personal details,