KYC frauds News

Airtel warns users against KYC frauds. Airtel alerts customers so that they don't do certain things. Users may quickly identify scam communications since they will have spelling and grammatical errors.

SBI has reminded its customers not to click on embedded links in text messages requesting them to update their account information. SBI also displayed one of the text messages used to carry out fraudulent actions. The embedded links in the text messages that mimic State Bank of India service notifications are cryptic URLs that allow unscrupulous scammers to access the customer's account details.

After dialling the number, the scammer instructed the woman to download and install the Quick Support programme, which allows a third party to access people's mobile actions. She was then asked to deposit Rs 10 into a specific account as a KYC fee. Then, using the application, she submitted her banking information, which the scammer was able to see.

Cyber criminals impersonated a private bank executive and demanded that Kambli submit his know your customer (KYC) information, or his bank account would be cancelled. Former cricketer was fortunate enough to recover the funds he had lost in cyber fraud.

According to reports, the woman received a message on her phone on November 8 stating that she had not updated her KYC information in a long time. The message included a phone number that purported to be that of an SBI officer. The woman eventually fell prey and dialled the phone number.

The swindle has already claimed the lives of a few unsuspecting users who have fallen victim to the con artists. He emphasises that neither Airtel nor any of its bank partners will ever contact a consumer and ask for personal information, particularly over the phone. Vittal also cautioned customers against being duped by scammers who provide links to download a bogus bank app or anything similar.

RBI alerted people against bank frauds that are related to Know Your Customer (KYC) documents. RBI said that certain details should not be shared via unverified or unauthorised channels/websites or even applications. Customers should quickly contact their bank branch to cross-check documents or information.

The cybercrime division of Delhi Police has revealed Google Play Store search results are primarily responsible for helping scamsters to do KYC frauds in India. DCP Cybercrime added that searching for KYC on the Google Play store shows TeamViewer Quick Support as the first result and this is the same app used for KYC frauds in India. The KYC scam involves a threat where people are asked to submit within 24 hours of the call for eKYC verification to avoid discontinuation of services.

Other telecom companies are constantly alerting users against these fake SMS and frauds. A lot of unaware customers fall for this trap and immediately share all these details which then leads to disastrous results. Vi has further issued a warning to all its users to not click on any unverified links or share any details that would eventually lead to data and information theft.