SunstarTV Bureau: The Reserve Bank of India (RBI) today said it has been receiving complaints about customers falling prey to frauds being perpetrated in the name of updating KYC and warned customers against them.
It said the usual modus operandi in such cases include receipt of unsolicited communication such as calls, SMSs, emails by customer urging to share certain personal details.
“Such communications are also reported to carry threats of account freeze or block or closure. Once customer shares information over call or message or unauthorized application, fraudsters get access to customer’s account and defraud him/her,” the RBI said in a statement.
Asking users to be precautious, the central bank said people should not share account login details, personal information, copies of KYC documents, card information, PIN, password, and OTP, etc, with unidentified persons or agencies.
The RBI also said that people should not share their details through unverified or unauthorized websites or applications. On receiving any such requests, the customer should get in touch with the bank branch, it added.
While regulated entities need to undertake periodically update KYC, the process has been simplified to a large extent, RBI said.
