The Reserve Bank of India (RBI) has released a comprehensive guide of do’s and don’ts to protect the public from falling victim to Know Your Customer (KYC) frauds. These scams involve scammers deceiving individuals into disclosing critical personal information, leading to unauthorized access to bank accounts and subsequent fraudulent activities.
DO’s:
- Directly contact your bank:
Individuals should reach out directly to their respective banks for KYC processes or updates. - Use official contact details:
Obtain the bank’s contact information exclusively from their official website or app. Any calls from unauthorized numbers should be treated with suspicion. - Report fraud immediately:
If individuals become victims of scams, immediate reporting to the bank or financial institution is crucial for prompt action. - Inquire about KYC options:
Stay informed about the available options for KYC processes or updates to make informed choices.
Don’ts:
- Do not share login credentials:
Refrain from sharing account details, passwords, or OTPs with anyone to prevent falling victim to scams. - Do not share KYC documents:
Avoid sharing KYC documents with unknown individuals or authorities to mitigate the risk of scams. - Avoid sharing data on unauthorized websites:
Keep personal details secure by not sharing them on unauthorized websites. - Do not click on SMS links:
Exercise caution and refrain from clicking on links sent via SMS to protect against potential scams.
By adhering to these guidelines issued by the RBI, the public can significantly reduce the likelihood of falling prey to KYC-related frauds.
