The Reserve Bank of India (RBI) on Thursday warned the public against fraudulent activities happening in its name and also asked people not to share their account login details, OTPs or KYC documents with unidentified persons.
In a press release, the central bank said it has come to the notice of unscrupulous elements using various methods to defraud people by using the name of the RBI in some capacity.
The RBI also detailed various modus operandi used by the fraudsters. According to the central bank, the fraudsters use fake RBI letterheads and email addresses, posing as central bank employees and duping people with fictitious offers like lottery prizes, fund transfers, foreign remittances and government schemes.
Victims who are targeted are forced to pay money in the form of fees for currency processing, transfers, remittances or procedures.
Another tactic that has come to our attention is that of small and medium-sized businesses being targeted by fraudsters posing as government or Reserve Bank of India officials and coercing them into paying a “security deposit” under the guise of a government contract or scheme, with the promise of attractive payouts.
Scammers also use scare tactics where they contact people via IVR calls, SMS and emails.
They also impersonate RBI officials and threaten to freeze/block/deactivate the bank accounts of the recipients and convince/coerce them to share certain personal details or install some unauthorised/unverified application using a link provided in the communication.
The RBI also said it has found some websites and apps of entities such as unauthorised digital lending apps and other purported financial service providers.
The central bank said it does not maintain any accounts in the name of individuals, companies or trusts in India to hold funds for disbursements. It also does not open accounts for individuals or ask them to deposit money in such accounts.
Further, the RBI said it does not send emails hinting at granting lottery funds or any SMS, letter or email to communicate fictitious offers of lottery winnings or funds received from abroad.
“Beware of calls, emails and any other communication from cyber criminals impersonating officials of government agencies or the RBI and asking for money transfers on the pretext of a tempting offer or alarming issue,” the RBI said.
“Do not share account login details, personal information, copies of KYC documents, card information, PIN, password and OTP with unidentified persons or agencies,” it said.
The public should also not share such data through unverified or unauthorised websites or apps. In case of any such request, they are requested to contact their bank or branch, the RBI said.
The central bank also advised the public to report suspicious communications to law enforcement agencies.
First published: August 29, 2024 | 20:27 IS
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