It has been said in the tweet that before giving any information related to KYC documents or any other information, find out the identity of the recipients (whom are giving information) as it may be that your details may fall into wrong hands.
State Bank of India (SBI), the country’s largest government bank, has warned its customers about KYC. Regarding the incidents of frauds related to KYC, SBI has told its customers that before giving their details to someone, find out what their identity is and whether the information is going into the wrong hands.
State Bank has made a tweet in the interest of its nearly 40 crore customers. It has been said in the tweet that before giving any information related to KYC documents or any other information, find out the identity of the recipients (whom are giving information) as it may be that your details may fall into wrong hands.
We advise our customers to #StayAlert and refrain from sharing their KYC documents or any other details without verifying recipient’s identity.
To report an incident, please contact the concerned law enforcement agencies or visit”सचेत” portal: https://t.co/CgA6Q7zqOk #CyberCrime pic.twitter.com/gMtvpK3Y8Q
— State Bank of India (@TheOfficialSBI) February 4, 2021
SBI has told the customers that if any such incident happens, file a police complaint or visit the portal alert related to cyber crime and give information about the incident. The bank has said in its tweet that if KYC information is being sought in the name of the loan, then one needs to be careful. There can be some big fraud in this and there is a possibility of getting into big trouble on giving information.
Nowadays, many types of forgery are coming out in the name of KYC. There is a big gang involved in this which calls people to update KYC. Sometimes it is also said that your ATM is closed or your bank account is inactive. If you want to start it soon then update your KYC.
Information about your Aadhaar number, bank account number or PAN etc. can be sought for KYC updation. OTP on mobile number is also asked. If you are a victim of this, then it is possible that the account becomes empty. The only way to avoid this is not to give information about KYC, until the identity of the person in front is known.
What is KYC
Kewasi means ‘know your customer’ or no your customer. Knowing here means the customer’s document, which gives information about it. Under KY, some important documents are asked from the financial institutions from the customer. Aadhaar, PAN, mobile number, home address etc. are included in these documents. Only on the basis of these documents, your account is opened in a bank or you are able to take advantage of facilities like insurance. KYC has been made mandatory by the Reserve Bank. That is, without KYC financial institutions you cannot have work. KYC is necessary for the safety of customers as well as financial institutions.
KYC is a process of confirming identity to the customer. Through this, banks or other financial institutions find out whether the information given by its customer is fake or not. Nowadays, KYC is necessary to open mutual fund accounts, bank lockers, buy online mutual funds and invest in gold. Nowadays wrong usage of mobile phones has increased. In view of this, Mobile Network Provided companies have also made KYC necessary for taking SIM. The SIM is issued only after taking the Aadhaar number. If your bank account is lying dormant, KYC needs to be done to get it running again.
What is conscious portal
The Reserve Bank of India also warns to avoid such fraud. Do not be lured to any unregistered and unincorporated entities, do not lure in false assurances of large returns, do not be part of any online survey / scheme that promises to deposit money and give high returns or offer cheap loans , Information is provided by the Reserve Bank. People are told about the precautions to be taken before investing their hard earned money.
Call / offers / mail / fake offers made in the name of the Reserve Bank of India, it is advisable not to fall into the trap of high profit assurances. The Reserve Bank does not ask for personal information such as bank account details, passwords etc. through e-mail, postal, SMS or phone call. It does not even offer to keep or give money. Such proposals received over the phone should not be answered in any way. If there is such an incident, the help of ‘conscious’ portal can be taken for quick resolution of complaints.
