Alert! SBI warns customers against KYC fraud: Here’s how to protect your bank account


KYC frauds have increased a lot these days. Earlier, Delhi Police also issued a warning to customers so that they don’t click on spurious links. Now the State Bank of India (SBI) has issued an alert for its customers on the KYC (Know Your Customer) fraud and said that the fraud is real, and it has proliferated across the country.   

In its tweet, SBI said, “KYC fraud is real, and it has proliferated across the country. The fraudster sends a text message pretending to be a bank/company representative to get your personal details.”

The bank has further urged its customers to immediately report if any such incident occurs on the National Cyber Crime Reporting Portal, which comes under the ambit of the Ministry of Home Affairs. These fraudsters bring out sensitive personal data through text messages or spam calls pretending to be the bank representative.

An initiative of the Government of India, this portal helps in raising complaints to report cybercrime complaints online. This portal caters to complaints pertaining to cybercrimes only with a special focus on cybercrimes against women and children.  

Law enforcement agencies or police investigate the matter after complaints raised on this portal. Therefore, it is advisable to give correct and accurate details while filing a complaint about prompt action. 

SBI has further come up with a few safety tips that need to be followed in order to prevent KYC fraud from happening. The safety tips are that customers should think before clicking any link. The Bank never sends links to update KYC and doesn’t share your mobile and confidential data with anyone.  

KYC is basically required by banks to cross-check their customers’ identity. Considering the pandemic situation, the Reserve Bank of India (RBI) had asked banks not to impose any punitive restriction against customers if they fail to update their KYC till 31 December 2021. 

SBI said that if their customers notice any unauthorised transaction in their bank account, they must report it immediately to the toll-free customer care numbers, apart from complaining to the national cybercrime portal. 

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