KYC Fraud alert! RBI cautions the public not be duped by this ongoing fraud

Beware of KYC fraud, RBI has sent a warning for the public not to be scammed by the ongoing fraud which has people sharing critical banking information with fraudsters.

Reserve Bank of India (RBI) said it has been receiving complaints/reports about customers falling prey to frauds being perpetrated in the name of KYC updation.

What can you do to protect yourself from KYC fraud?

• Do not to share account login details, personal information, copies of KYC documents, card information, PIN, password, OTP, etc. with unidentified persons or agencies
• Never share details sthrough unverified or unauthorised channels/websites or even applications in the case that a customer receives such a request
• Customers are advised to immediately get in touch with their bank branch to verify the need for these documents or information

What are the KYC updation deadline?

RBI also reminded depositors that even if KYC is not updated there will be no restrictions imposed on their account till December 31, 2021.