Mumbai the city of dreams is a home and financial help to many. To survive here people earn and do hardwork non-stop even without any break at times.
The city has seen sudden increase in cases of KYC frauds, recently. 78 FIRs have been registered to the police in just two weeks. But what to do?
[Note: KYC stands for Know Your Customer]
The caution is to avoid falling prey to such frauds and here’s what you can do and what you should not do:-
DELETE SUSPECTED MESSAGES
Don’t click on unknown or unverified links, E-mails or SMS. Delete the suspected messages by unknown senders, immediately.
Always visit the official website of your bank or service provider for customer care. For KYC updates also, visit the nearest branch of your bank or refer to its official website only.
Always remember to verify a website’s details carefully, especially where it requires entering financial credentials.
FOLLOW THE RULE DNS
Follow the rule “DNS” Do Not Share, personal or financial information like card details, PIN, OTP, password with anyone or over any link. The Bank officials will never ask for your confidential banking or personal details.
KYC UPDATE DEMANDS
Never heed to unsolicited KYC updates demands, as your bank will never share a link with you to update your KYC in an unsolicited manner.
NO THIRD PARTY APPS
Banks and financial institutions never ask you to install any third-party or extra application.
Protect your smartphone with a strong password or biometric authentication. So that your information don’t gets leaked.
This new term Modus Operandi is related with the fake SMSes with phishing links to customers stating their bank account would be blocked unless their KYC is updated. This is also known as smishing.
So these are important points that we need to keep in mind to stay safe from KYC frauds.