SBI warns of KYC update fraud, do these three things to keep your account safe

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SBI account holders also need to be careful as recently India’s largest lenders have allowed acceptance of documents for KYC update through mail or post.

State Bank Of India

State Bank of India (SBI) has alerted its customers regarding the increasing cases of online fraud. The bank issued an alert through a post on Twitter, alerting people that fraudsters are cheating people in the name of their Know Your Customer (KYC) verification. SBI said in a tweet, KYC fraud is real and it has spread across the country. Fraudsters are sending text messages posing as bank/company representatives to get your personal details.

SBI account holders also need to be careful as recently India’s largest lenders have allowed documents for KYC update to be accepted through mail or post. This will benefit customers who are facing difficulties due to the local lockdown imposed to prevent the second wave of the coronavirus pandemic.

Follow these three tips to avoid fraudsters

>> Think before clicking on any link.
>> Bank never sends the link for updating KYC.
>> Do not share your mobile number and confidential data with anyone.

How to Report KYC Fraud?

The bank has cautioned its customers to report any unauthorized transactions in their bank accounts immediately. If any unauthorized transaction is seen in your bank account, report it immediately to the toll-free customer care number – 18004253800, 1800112211.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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